Good morning @reu A few quick points. I do think you are...

Good morning @reu

A few quick points.

I do think you are insightful, you bring a level of deep logic and understanding that I find refreshing.

Your point about the whole management team is not a stretch for me to believe because there have been significant changes in staff. Without any clear explanation to the contrary from the company, a more cynical mind than mine, could view the departures of Lisa Zhang, John Stefanac, Anet Redmer, Michael Partington, Charles Mauro, Li Chin Chan, Andrew Gallash, Ben Hobbs, Michael Clarke, et al, as a situation where they were either unable to work for/with management or were forced out. It is a significant number of staff to leave in such a short period of time. As to the two founders it could be argued that they have too much to lose to appear anything other than completely partisan.

Trust me I'm not concerned about titles at all, otherwise I would have stayed in my past position (it had one of those very important sounding titles) my concern is more justifying the concentration of power in one individual regardless of who that person is. Our CEO is also our chairman of the board, chair of the remuneration committee, executive director and significant shareholder. Through that prism it is easy to see how no one else in the company would dispute him putting forward such an attractive pay and bonus package for himself.
I do see value in his skill set in so far has setting up the RTO in the first place, and attracting investors into Xped, but if that is his role in the company then how is his being paid a 30% bonus for carrying out his core function justified? I have been a vocal supporter of Athan in the past but it is very hard for me to see this as anything other than an opportunistic cash grab. If he was a good CEO he would acknowledge that there is significant displeasure amongst shareholders (those whose best interest he is charged with protecting) with the largesse of this bonus structure and would drop it until the company is profitable.
That would send a clear message to the market that he is completely confident in the future success of Xped. But at the moment, and I can only speak for myself here, the appearance is for him to earn as much as possible as quickly as possible from Xped, whilst still leaving his options open to jump ship to his other company First Growth Funds.
He would return to my good favour if he dropped the bonus, made the targets profit not revenue based and stepped down as director at FGF. All I feel very reasonable if he is indeed confident in the future success of Xped.

I also had no intention of upsetting you with my remarks regarding management, as like you, I'm just a shareholder looking for truth and to test my ideas.
And trust me I have a love of depth (preferably snow and ocean) plenty of "safe" shares and a healthy supply of cotton wool (it's cheaper at Costco).