Can I please correct my maths regarding my previous post. The top executives will be receiving somewhere in the facility of 40 million shares in Lew of 60% of their wages. If the 8 top executives earn $250k (conservative) in salaries this equals $2mill. Approximately 60% of this will be taken in shares being $1.2mill at about 3 cents per share it will equate to 40 million new shares to be issued which is over 4% of the current share issue. Worse than I previous calculated! DILUTION OF CURRENT SHARE HOLDERS WORTH
Where is the sacrifice by these people? They are not giving up anything. They are diluting the existing share holders value. Most senior executives and boards around the world are taking straight percentage cuts off their salaries and forgoing incentives. Lucky to have a job I say. Also the company is pretty much in a hold and care stage. Less work for many of them.
I hope my interpretation of this is wrong but I fear not. Please prove me wrong people. I also ask, does ATS have the rights to re-engage the line of credit with Macquarie Bank? The recent announcement was ambiguous. If not I fear for their ability to raise capital down the track. Production will not cover their expenses in 2021. Your thoughts please people.
ATS Price at posting:
3.1¢ Sentiment: None Disclosure: Not Held
