ESOP misunderstanding!! filed on March 13, 2019.
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Posted On: 04/24/2019 2:43:57 PM
ESOP misunderstanding!! filed on March 13, 2019. In an effort to be fair I think it's important to clarify that the ESOP was an amendment to an existing ESOP and it was not a devious attempt by the Company to stack the deck in their favour. Here is the filing:
https://www.sec.gov/Archives/edgar/data/14319...orms-8.htm
It should have been read in conjunction with Exhibit No. 4.1
If anything the above illustrates that we can all make mistakes, especially when reading complicated SEC filings. I am as guilty as everyone else in perpetrating the false information.
In response to an email that I sent to Management, the following is a reply that I received from Mordechai regarding the ESOP.
This was definitely a criticism that was not warranted.
https://www.sec.gov/Archives/edgar/data/14319...orms-8.htm
It should have been read in conjunction with Exhibit No. 4.1
If anything the above illustrates that we can all make mistakes, especially when reading complicated SEC filings. I am as guilty as everyone else in perpetrating the false information.
In response to an email that I sent to Management, the following is a reply that I received from Mordechai regarding the ESOP.
Quote:
On March 2019 the company filed an S8 form in order to register the ESOP shares (The ESOP plan was adopted in 2016).The options’ plan was amended on February 5, 2019 and was made only for the update of basic concepts, we didn't issue a new plan, nor updated anything material on it. In any case, the Options are being held by a trustee and do not provide the options’ holders with any voting rights.
This was definitely a criticism that was not warranted.
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