pete smith gone!, page-50

For me the IPO failure was inexcusable and deplorable. In so many industries we do things to make sure they work and not fail. Even in biotech we do trials/tests etc. Engineering they do calculations so bridges and buildings don't fall down. The IPO should never have been an "if". I'm scared to think of how much was wasted with the failed IPO.

I'll put up my hand and take the CEO job for 5% of what Pete was on. We have to get through Phase 3 and getting a partner on board seems the only option considering our cash burn and inconsistent revenue via DRL.

Speaking of DRL, seeing we the existing ties, should we be considering DRL as a partner?

I almost think that CEO's salary packages should also have a negative bonus built in as well. If they perform above a bench mark, they get a bonus. If they perform below then start paying back the salary! That would make them think twice before taking on a job that they're not quite cut out for.