I just don't get all of this blind love for our CE
Post# of 148158
(Total Views: 632)
Posted On: 04/18/2021 3:12:08 PM
I just don't get all of this blind love for our CEO. He, the Board of Directors, and Scott Kelly have been sued (and lost/settled) for illegally lining their pockets with CYDY shares just days prior to positive results being announced.
Nader's entire compensation for 2020 was over $9 million dollars, which eclipses all but the very largest pharmaceutical company CEOs. He personally holds almost NO SHARES. He has warrants and options that won't mature for years but he has never bought shares on the open market, even when we weren't in a blackout period.
If you take the time to read the 10Q that came out this week, you will see a long list of finance deals where principal and interest payments get rolled into the next deal, with no debt getting paid down but the appearance that shareholders are not getting diluted. Each of these 'deals' has an automatic $3 million profit built in for the lender (i.e. we 'borrow' $25 million but pay $28 million back). THAT DOES NOT INCLUDE THE LOAN INTEREST.
The finance deals also appear really favorable in that the stock converts at $10 for the lender, but there is a clause that ratchets the number of shares up drastically if Nader does any dilution. So while he sings his own praises at protecting shareholders, he's actually misrepresenting the fact that even the smallest dilution will bring the financial house of cards down.
I own this stock DESPITE Nader. I would own a LOT more if he was gone and someone with experience was at the helm. The world can't afford to wait for him to learn 'on the job' any more. People are dying and the CEO doesn't know whether Open Label Expansion patients can be added back into a randomized placebo controlled trial in order to hit p value? Even I know the answer to that is NO.
Nader's entire compensation for 2020 was over $9 million dollars, which eclipses all but the very largest pharmaceutical company CEOs. He personally holds almost NO SHARES. He has warrants and options that won't mature for years but he has never bought shares on the open market, even when we weren't in a blackout period.
If you take the time to read the 10Q that came out this week, you will see a long list of finance deals where principal and interest payments get rolled into the next deal, with no debt getting paid down but the appearance that shareholders are not getting diluted. Each of these 'deals' has an automatic $3 million profit built in for the lender (i.e. we 'borrow' $25 million but pay $28 million back). THAT DOES NOT INCLUDE THE LOAN INTEREST.
The finance deals also appear really favorable in that the stock converts at $10 for the lender, but there is a clause that ratchets the number of shares up drastically if Nader does any dilution. So while he sings his own praises at protecting shareholders, he's actually misrepresenting the fact that even the smallest dilution will bring the financial house of cards down.
I own this stock DESPITE Nader. I would own a LOT more if he was gone and someone with experience was at the helm. The world can't afford to wait for him to learn 'on the job' any more. People are dying and the CEO doesn't know whether Open Label Expansion patients can be added back into a randomized placebo controlled trial in order to hit p value? Even I know the answer to that is NO.
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