RE:RE:RE:RE:RE:RE:RE:RE:TauRx, Chernett stake and buyback
nozzpack wrote : "... Incompetent management who skim off the free cash flows."
Strong words.
Let us check the facts.
Based on 2024 Q3 financials, salaries and compensation total in excess of $2.250,000 - basically $3,000,000 yearly. That works out to slightly more than 2% of DC market value. Then we have management/directors stock options. From Q3 financials:
"Share Bonus Plan
During the first nine months of 2024, the Corporation awarded 637,970 (2023 – 517,237) bonus shares with an aggregate value of $868,000 (2023 – $690,000) in respect of certain deferred compensation arrangements and issued 397,672 (2023 – 312,231) Subordinate Shares from treasury in settlement of vested share bonus awards. Aggregate share bonus awards granted
but not yet vested at September 30, 2024, pursuant to the Corporation’s share bonus plan, were 1,135,036 (December 31, 2023 – 1,180,821) shares.
Deferred Share Unit Plan
During the nine months ended September 30, 2024, the Corporation issued 1,177,367 (2023 – 978,124) deferred share units (“DSU”) to certain directors, officers and consultants of the Corporation in partial payment for their services. At September 30, 2024, there were 4,916,507 (December 31, 2023 – 3,739,140) DSUs outstanding that track the value of the Corporation’s
Subordinate Shares."
Overall, that works out to an awful large percentage of market value, not to mention the $2,000,000+ spent annually on "corporate and professional fees"
Even the worst mutual funds do not chage that much. What are we - common shareholders - getting for the compensation paid management?