In constrast with the cheer squad here, IMO management have done little to justify payrise + bonus + massive option grant at miniscule hurdle. They have proportionally very little of their own money invested in the company.
I would prefer a stronger team of non executive directors to keep this lot personal remuneration packages in check. Looks like they kicked the non execs a few $$ too, so likely no improvement. Senior management should not be allowed to strip out 40% of the spend (the other 60% being outsourced) at this stage in the company's development.
IMO they earn their large salaries and equity package when they deliver, not before, especially after setting expectations too high. At historical cash burn they are looking at a cap raising around Feb next year (with 8 weeks cash left) to keep paying them. So they can expect my No vote on the extra gifts.
My cost base is low, I'm in front - many aren't.
PYC Price at posting:
5.1¢ Sentiment: Hold Disclosure: Held
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