C14 - is it a clendestine service to serve BIT management to draw salary?, page-7

Corporate governance is virtually non-existent, and there appears to be a complete lack of regulatory oversight — especially regarding executive salaries and other forms of cash burn. A company that has failed to deliver any material update or tangible outcome for years should not be able to afford a hefty salary for a CEO who appears to be doing little more than tending to personal image, including cosmetic treatments like Botox.

Salary expenses must be frozen until the company secures meaningful revenue from the C14 process.

Those who contributed funds in the recent capital raise are now privately questioning the integrity of the company, the true nature of C14, and whether BIT exists merely to sustain executive lifestyles — like funding Botox — rather than creating shareholder value. While some investors participated in the raise to average down their positions, they must now realize that BIT currently benefits its CEO more than its shareholders.

Shareholders and regulators must work together to put an immediate stop to CEO salary payments — and any non-essential expenditures — until BIT achieves a credible financial or commercial outcome from the C14 initiative.

Regulators must require the CEO of BIT to publicly report on the progress (if any) made by C14, including clear milestones and deadlines. If not, what is the purpose of having regulators at all? Why allow BIT’s management to continue misleading the market, collecting salaries, and operating in secrecy — while leaving shareholders and regulators in the dark?

Shareholders are calling on regulators to step in and ensure that any money raised is used strictly to advance the company’s commercialisation — not to fund an executive team that does nothing and misleads investors. Shareholders are sending SOS signals to the regulators.

It is the responsibility of the regulators to protect investors, ensure transparency, and hold company directors accountable for how shareholder funds are used. When a company repeatedly fails to deliver, avoids material updates, and continues to burn cash without progress, regulators must investigate whether there has been any breach of directors’ duties, misuse of funds, or misleading conduct. Silence and inaction from regulators only embolden poor governance and deepen shareholder losses.