Post by
rkhosla on Nov 27, 2020 3:10pm
Annual Meeting Cricular
Things I learned:
1) Pathe got lowest votes of anyone on board - 54%
2) His compensation 2019 was $3,268,000
3) Share Consolidation - motion #5 - 10 or 20 to 1 - so we become a $3 or $6 dollar share - does that mean elligible for margin???? They say they just want approval but not decided they will proceed
4) I own more shares than David Pathe - he owns outright only 434,193 with a whole bunch of other outstanding restricted shares and 'performance shares'
5) no director owns more thank 100k shares with one owning zero....
6) the majority of the document - pages 36-80 is spent justifying their executive pay
Comment by
StockPick50 on Nov 28, 2020 3:29am
Pretty much sums up the remaing problems that can be solved with this company. Cut down the new CEO salary, get the directors onboard by owning shares & stop sending money to dry oil wells. Would be nice if they bought back shares instead of hedging but that resolves back to the director's lack of integrity.
Comment by
autofocus111 on Dec 01, 2020 6:20pm
I voted NO to the reverse split. Presumably it would be in preparation for an eventual capital raise. I say if they want to do that, focus on making the business profitable and raise capitla if/when the stock gradually climbs back to a buck plus. Absolutely no reason to provide fuel for a fresh round of shorting.