I'm actually stunned by people in this forum who own Splitit...

I'm actually stunned by people in this forum who own Splitit shares, but don't understand this article about the Chairman (Spiro Pappas) and the current CEO (Gil Don).

https://www.theage.com.au/business/companies/splitit-founder-and-chairman-seek-2m-in-fees-and-share-bonus-20190930-p52wbi.html

The Chairman and current CEO are asking shareholders to waive performance conditions on the share rights and bonuses they want to receive. What they are asking is absolutely outrageous and a total rip off.

The current CEO was meant to achieve annual billed business of $150 million. He has totally failed. Total 1H2019 billed business is just $34 million. Annualise this and Gil Don has only achieved $68 million for the year. Less than half of his target! But he still wants us to approve his performance rights and bonuses? Outrag It is absolutely outrageous.

And as for the Chariman asking for $30,000 per month for - wait for it - CONSULTING on the debt facility - I think it is a total rip off. If the Chairman and the current CEO had presided over $75 million of total billed business in 1H2019, then I would be all for it. But they have totally missed their targets.

For a company that generated only $700K in revenue it is totally appalling that these to greedy pigs want to lay their hands on $2 million of company money. And they missed their targets a million miles.

Here is the article: