Hi, Nice,
As you appear determined to repeatedly post about the pay package until someone acknowledges you, I'll take the bait.
Your question:
"how many of you would pay yourself $1 million in cash and 46 million (typo... we all assume you mean the $6MM) in stock, if you lost $14 million? I'm guessing not many!"
has to be looked at with perspective. I will briefly place myself in two scenarios I see...
1) The scenario looking at only what we shareholders can currently see concretely (the scenario you appear to be projecting forward). The company is not producing revenues. The share price is in the crapper. The company is running out of options for financing and virtually out of cash.
If this is the complete picture, no, I would not issue $6MM in stock as payment, creating 30% or more in dilution, despite how hard the Team and I had worked for years to get to this point.
Issuing that amount of stock in this situation would drive the stock down further, eliminate any possible financing options still available, and possibly create a downward spiral from which the company could not recover. This in turn might drive the dreams of all the scientists I have worked with (and all the good science) into oblivion and put everyone out of a job.
Scenario 2) I know I have gathered a group of respected scientists with great vision and some very impressive products and ideas. I have created a BOD and an SAB filled with some of the top scientists in the country. I have weathered a 12-month SEC rectal exam of my company that threw my plans completely into flux. I have subsequently redirected the entire operation to confront a worldwide disaster which my company just may be equipped to address, even as my most promising, market-ready product (Excellagen) is prevented from coming to market due to these circumstances.
In doing so, I have shrugged off short-sighted purse string holders in my country and others, working hard to build connections in countries across the globe. My company has signed deals to allow my patented technology to move forward despite the fact that we barely have 2 nickels to rub together.
I have full visibility to various avenues for success coming down the pike in the near-term: NGIO IPO, CV testing results, Excellagen sales opening up, NuGenHealth revenues starting to ramp up, etc.
And let's not forget that I and much of my Team have worked tirelessly and creatively to overcome so very many obstacles, despite being underpaid at best and not paid at all in some cases.
I will now answer your question... in this scenario HELL YES, I will put together a pay package that I feel tries to reward the value of my Team and our efforts!
As you alluded to, this move can either be seen as proof of good things to come, or it can be a sign that Joe has lost his marbles.
If it's the latter, we're all screwed any way you look at it. And, frankly, since a company's value can only go as low as zero, it wouldn't be much worse if Joe put out 500MM shares.
But if Joe's confidence in finally preparing a pay package is a sign of success that we can't yet see, then this $6MM is probably insignificant in the long-run.
As I've said a number of times, this endeavor is either going to be massively rewarding, or it's going to be a total bust. $0/sh or $s/sh. Many of the bets are placed, including mine.
Happy New Year everybody... 2021 is going to be exciting here in GNBT/NGIO land!
As you appear determined to repeatedly post about the pay package until someone acknowledges you, I'll take the bait.
Your question:
"how many of you would pay yourself $1 million in cash and 46 million (typo... we all assume you mean the $6MM) in stock, if you lost $14 million? I'm guessing not many!"
has to be looked at with perspective. I will briefly place myself in two scenarios I see...
1) The scenario looking at only what we shareholders can currently see concretely (the scenario you appear to be projecting forward). The company is not producing revenues. The share price is in the crapper. The company is running out of options for financing and virtually out of cash.
If this is the complete picture, no, I would not issue $6MM in stock as payment, creating 30% or more in dilution, despite how hard the Team and I had worked for years to get to this point.
Issuing that amount of stock in this situation would drive the stock down further, eliminate any possible financing options still available, and possibly create a downward spiral from which the company could not recover. This in turn might drive the dreams of all the scientists I have worked with (and all the good science) into oblivion and put everyone out of a job.
Scenario 2) I know I have gathered a group of respected scientists with great vision and some very impressive products and ideas. I have created a BOD and an SAB filled with some of the top scientists in the country. I have weathered a 12-month SEC rectal exam of my company that threw my plans completely into flux. I have subsequently redirected the entire operation to confront a worldwide disaster which my company just may be equipped to address, even as my most promising, market-ready product (Excellagen) is prevented from coming to market due to these circumstances.
In doing so, I have shrugged off short-sighted purse string holders in my country and others, working hard to build connections in countries across the globe. My company has signed deals to allow my patented technology to move forward despite the fact that we barely have 2 nickels to rub together.
I have full visibility to various avenues for success coming down the pike in the near-term: NGIO IPO, CV testing results, Excellagen sales opening up, NuGenHealth revenues starting to ramp up, etc.
And let's not forget that I and much of my Team have worked tirelessly and creatively to overcome so very many obstacles, despite being underpaid at best and not paid at all in some cases.
I will now answer your question... in this scenario HELL YES, I will put together a pay package that I feel tries to reward the value of my Team and our efforts!
As you alluded to, this move can either be seen as proof of good things to come, or it can be a sign that Joe has lost his marbles.
If it's the latter, we're all screwed any way you look at it. And, frankly, since a company's value can only go as low as zero, it wouldn't be much worse if Joe put out 500MM shares.
But if Joe's confidence in finally preparing a pay package is a sign of success that we can't yet see, then this $6MM is probably insignificant in the long-run.
As I've said a number of times, this endeavor is either going to be massively rewarding, or it's going to be a total bust. $0/sh or $s/sh. Many of the bets are placed, including mine.
Happy New Year everybody... 2021 is going to be exciting here in GNBT/NGIO land!
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