8-K filed on 11/7/2016 with John and Grahams compensation agreement, didn’t see that on the press release for the the announcement of 2 new board members and compliance with Nasdaq.
https://www.sec.gov/Archives/edgar/data/1024126/000113626116000650/exh10-2.htm
https://www.sec.gov/Archives/edgar/data/1024126/000113626116000650/exh10-6.htm
$125,000 (John) and $100,000 (Graham) sign-on bonuses for performance milestones that have already been met, how does that work?
(i) achieve the objectives related to the operational restructuring resulting in a flattening management structure and the achievement of a sales force realignment that reduces and streamlines the two separate Company sales into one integrated sales force, (ii) ensure compliance with the Company's debt covenants in August and October 2016, and (iii) regain compliance with NASDAQ's listing requirements prior to the expiration of the grace period.
So for firing the sales folks and hiring a board member they get $225,000?
These guys are paying themselves handsomely for not having shown any results, they are worse than the old clowns Dougy and Sanjaya. On top of that they’re getting RSUs and stock options.
I’ll be going elsewhere before they take what’s left of the company, good luck to those who remain.
https://www.sec.gov/Archives/edgar/data/1024126/000113626116000650/exh10-2.htm
https://www.sec.gov/Archives/edgar/data/1024126/000113626116000650/exh10-6.htm
$125,000 (John) and $100,000 (Graham) sign-on bonuses for performance milestones that have already been met, how does that work?
(i) achieve the objectives related to the operational restructuring resulting in a flattening management structure and the achievement of a sales force realignment that reduces and streamlines the two separate Company sales into one integrated sales force, (ii) ensure compliance with the Company's debt covenants in August and October 2016, and (iii) regain compliance with NASDAQ's listing requirements prior to the expiration of the grace period.
So for firing the sales folks and hiring a board member they get $225,000?
These guys are paying themselves handsomely for not having shown any results, they are worse than the old clowns Dougy and Sanjaya. On top of that they’re getting RSUs and stock options.
I’ll be going elsewhere before they take what’s left of the company, good luck to those who remain.