Hopkins earning $340k is about $200k after tax - he is putting half his after tax earnings back into the company in equity - prettyimpressive if you ask me. I'm not sure anyone is taking more risk than him! numbers may be bigger for others but noone else has their entire income stream and a chunk of equity risk as well. Odds on if he doesn't deliver in the next 2-3 years he will lose the CEO role as well - now thats 'All-in' in my book.
You are 100% right about me and info v the Board. I should NOT be relied upon if you assume I know stuff - I am merely a provider of capital to things I think offer good risk rewards - obviously I think this does (or I could have easily dumped heaps when it spiked - yes I sold a few but not a material amount).
I have been hassling them to raise a little cash and keep the runway longer - I was thinking $3-5m but was pretty excited when it was possible to get $10m ($9) in a fashion where existing holders can keep all their relative exposure. Fully underwitten by the largest shareholder and Board member.
MCAP will be $30m with $10m in cash and NO ONE gets diluted. 2-3 year clear runway and the time and cash to deliver decisive commercial outcomes and go to the US or sell out. Finally no question of a cr till 2018.
Decisive.
PYC Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
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