Im not sure where your logic is mate. Im a pretty logical person so please feel free to discuss logic with me.
They were issued shares in lieu of cash, but could have sold them straight away. I agree that if he sells, he makes profit, and that in turn should make profit for us. However he has $220,000 worth of shares up front. If the thing flops, he still has his $220,000 if he sold yesterday.
I would agree that if the shares were issued on a performance basis to be paid in the future, they would be incentive.
He might have kept the shares and think it is a great product and be expecting to make a huge profit on those shares. im simply stating that we dont know if that is the case given that he might have sold them on issue.
IOT Price at posting:
9.8¢ Sentiment: Buy Disclosure: Held
