What I see is that well over 19 million is still available for them to draw upon - leaving plenty of time (even with a 10% raise) to finish a couple trials, secure a partnership or something even better, and pay everyone involved.  I like what I read!  Besides, what other OTC are you comparing to? Also, if I owned my own company you'd better believe I'd give myself awesome raises.  Gees, what would have happened if they gave themselves both a 15% raise... or heaven forbid 25%? Nothing different.  Next time you show up to be harsh for no reason at the board so many of your friends frequent maybe you can say one positive before you attack.