Regencell Bioscience Holdings Ltd RGC

$RGC CEO, Mr Yat-Gai Au said he agreed with $TSLA

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$RGC CEO, Mr Yat-Gai Au said he agreed with $TSLA CEO Elon Musk that sophisticated hedge funds are using short-selling and complex derivatives to take advantage of small investors.

“I will continue to draw a $1 annual salary and no bonus until the company reaches a $1 billion market capitalization and reserve share options for all employees except myself,” Mr. Au said.

He pledged to continue to use his funds to purchase company shares to demonstrate his commitment to Regencell and his position against short and distort sellers.

With a total cumulative short volume of over 19 million shares since the company’s initial public offering (IPO), Mr. Au says he began his share purchases last year using his personal funds to further the company’s goal to save and improve lives.

Additionally, company directors and employees who were previously granted stock options upon the company’s IPO have agreed to a further lockup undertaking for six months after their stock options become vested.

Since Regencell's incorporation in October 2014 up to the IPO, Mr. Au has fully funded the company. Upon the IPO, his $3.25 million loan to the company was converted into approximately 342,000 common shares at an initial offering price of $9.50.

As we are going through an unprecedented time, people are trying to find innovative ways to reshape the world in a positive way. Mr. Au and Regencell have been practicing good corporate social responsibility (CSR) and are working towards an ESG framework by integrating its business and employees’ personal values to create a sustainable business for the future.

Mr. Au's and the company's philanthropic endeavors have not gone unnoticed. His idea is simple: perseverance to do social good and surround yourself with like-minded individuals will inevitably create a successful company, and that starts with hiring the best people who contribute to society and share the same values, where their actions count and views matter.

https://www.benzinga.com/general/biotech/22/11/29658800/from-providing-grants-to-over-10-000-children-with-adhd-asd-and-covid-19-to-building-a-company-to