I agree with this sentiment and will also vote no to the Loxton incentive bonus and his generous remuneration package. The double standard is glaring. Most of us invested in this company because Loxton came up with massive claims about exponential Yowie egg sales ramping up to 500M per year. Now when it comes time for bonus consideration (and after our cash is already invested) the goal posts have changed - in fact the whole football field has changed from the MCG to Little League - and the bonus level is set at a magnitude 6% - yes 6% - of what was originally promised - 30,000 eggs average for 3 years.
So I conclude 2 things from this. It appears Loxton had absolutely no idea how difficult it would be to set up in the US. He was, and remains out of his depth in this industry in this market. Secondly - he is greedy and devising performance goals far below the expectations that he created in the first instance. It is well past time for him to step aside and stop riding the gravy train.
We have new management so let them manage. Bring the company to profit asap and device performance bonuses on the bottom-line financial performance so when the bonus comes to them it also comes to shareholders.
I disagree with much of CEM says but he/she is on the mark on this topic.
Tyremen
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