It is generous and well aligned with shareholder objectives. I'm pretty sure the CSO role can mostly be channelled through an R&D rebate so cuts the cost.
Obviously this team has a massive workload and are being compensated accordingly - 2 years to deliver a lot and must hit the ground running which will be easy given their knowledge of the company already.
Lots of cash to be able to deliver what is required in the next 12-24 months. My guess is 7m+5m-2m for the June cash balance (March cash plus CR less last quarters expenses) so around about $10m with another R&D rebate later in H2 probably covering a quarters expenses. Allowing for increased investment the Board has probably sized it to cover 2018 objectives assuming zero revenue just in case.
Amazed that the SP hasn't responded to the exec team and in particular the $5m derisking for new buyers. June is a weird month though - best guess is that some people are realising some capital gains against other losses - I did sell some closer to 5c a while back to do the same cause I have some real dogs in the portfolio.
PYC Price at posting:
4.0¢ Sentiment: Buy Disclosure: Held
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