I've been seeing a lot of complaining about employee compensation for the people who have been working for slave wages and now will get a deserved reward. All the posts have assumed that dilution is coming to the GNBT stock, but what does the text actually say?
Page 19
“Employee Compensation and Settlement Agreements
During the three months ended October 31, 2020, the Company awarded executives and employees bonus compensation of $7,005,416 to be paid in approximately $1 million in cash and $6 million in stock. The cash portion is to be paid out before December 31, 2020 and the stock portion is expected to be issued by January 31, 2021.”
Page 28
“During August and September 2020, the Company granted 6,222,210 stock options to buy common stock, at $0.45 per share and $0.31 per share, to various officers, board members, employees and consultants.” (What a deal – sarcasm implied)
Page 19 says “$6 million in stock”, but GNBT is not the only stock under Joe’s control.
How about this possible scenario:
The delay in stock issuing is because the NGIO stock doesn’t have a current value, but once the NGIO IPO has a date and value (by Jan 31?), the $6 million can be divvied up into the appropriate shares (from the 300+ million NGIO shares GNBT owns – no dilution) and given to the employees just like we got our FREE NGIO shares. Then when NGIO is on the market, the employees can keep or sell their NGIO shares just like we can.
When I worked for a publicly traded company, the LAST thing I wanted to hear is some stockholder complaining about how much I was making! Joe has been a scrapper, taking GNBT off of a dung heap, and thru the years, making GNBT what it is today. I doubt very much that he is now becoming fiscally irresponsible.
Page 19
“Employee Compensation and Settlement Agreements
During the three months ended October 31, 2020, the Company awarded executives and employees bonus compensation of $7,005,416 to be paid in approximately $1 million in cash and $6 million in stock. The cash portion is to be paid out before December 31, 2020 and the stock portion is expected to be issued by January 31, 2021.”
Page 28
“During August and September 2020, the Company granted 6,222,210 stock options to buy common stock, at $0.45 per share and $0.31 per share, to various officers, board members, employees and consultants.” (What a deal – sarcasm implied)
Page 19 says “$6 million in stock”, but GNBT is not the only stock under Joe’s control.
How about this possible scenario:
The delay in stock issuing is because the NGIO stock doesn’t have a current value, but once the NGIO IPO has a date and value (by Jan 31?), the $6 million can be divvied up into the appropriate shares (from the 300+ million NGIO shares GNBT owns – no dilution) and given to the employees just like we got our FREE NGIO shares. Then when NGIO is on the market, the employees can keep or sell their NGIO shares just like we can.
When I worked for a publicly traded company, the LAST thing I wanted to hear is some stockholder complaining about how much I was making! Joe has been a scrapper, taking GNBT off of a dung heap, and thru the years, making GNBT what it is today. I doubt very much that he is now becoming fiscally irresponsible.
3
