Yes maybe we are harsh but how much of this do we take? I don't understand why he received 4 mill free shares? He is only a non-executive Chairman. I think they should at the very least place some restriction on what price he can sell the shares at , say $1 would be fair in my opinion. I think many shareholders also had a gutful of the free options they keep issueing themselves. There should be one simple reward for directors and staff. When they get the price over one bloody dollar per share then let them take some reward. No more free options!! Since 2007, 2 years have passed and the company is still much worse off. Millions have been spent to achieve what? They put out these slick PR reports to make it look like they are earning their high salaries. But in actual fact there appears to be very little substance to these reports as refelcted by the share price and lack of interest from brokers.
Why does this company need a Director of Sales, a Director of Marketing and a General manager of Australian Operations?? They have taken on a new financial Officer but they still have the company secretary., For such a small company surely one person can do all the finances including co. secretary role? There is a senior director of Manufacturing. What does he do all day. MIk is barely selling anything. There is a 2 man advisory Board, achieving what? This company is so top heavy in high paid staff and achieving what? The share price is truly a disgrace which is surely a direct reflection on the senior mangament of this company.Why doesnt the CEO put his cash where his mouth is and take a very substantial pay cut until he achieves what he claims will be achieved. In my opinion its nothing but a gravy train for employees of MIK.
MIK Price at posting:
8.0¢ Sentiment: None Disclosure: Held
