Great post @MoonBuggy
I had always derived confidence that directors were prepared to take shares in lieu of salary and to take 100% of your salary is a huge vote of confidence.
But what i haven't seen before is that this issuance of shares is delayed until the Phase 2 trial completes (same timing that Clendon gets to convert their options) is huge. They receive no salary and if IRX does not succeed, something goes wrong, they basically risk all of this earned salary as the shares would probably be worthless. So to welcome this arrangement is just a massive vote of confidence in the prospects of IRX.
And then the absolute pearler that you have uncovered is the tax implications. What will the directors do? Do you pay the tax now in advance of the shares even being issued? Who wants to have to do that?!?! Or do you wait until the Phase 2 trials complete?
But what if the trials are a huge success in which case the share price as discussed the other day could be in the dollars rather than cents. in which case the tax payable would be in the Millions instead of the thousands?!?!
Wow what a dilemma.
This is a truly fascinating company with even more fascinating prospects. All availabe signals point to the fact that this is going to be a monster. All the smart money keeps doubling down in its gamble that the company is going to be a huge success. And yet, with next to no promotion and marketing of the company, no-one but the insiders appear aware of what we are sitting on.
Its a complete conundrum. Wish i had a few more dollars to throw at this right now....
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