From the CY2020 report accumulated losses $21,635,786. Model is when you list pay a large bonus to Oren and Co, then pay remuneration to not one but two CEO's (if a director is paid the same as a CEO then it's a dual CEO situation ) at least double your peers, pay bonuses when the company records a loss, then issue options that dilute shareholders. Finally when you run out of options to raise capital in Australia, secure a local investor (s) in Israel. Final piece of the puzzle is to delist. This is seriously one of the best lessons I have learnt in investing as the tech is brilliant and is a big theme moving forward. The company has solid connections with the military in Israel that flow through to the US. However the gains are not for us and never will be. I could not understand why management would treat shareholders with such disdain. My wife is Jewish, which means my daughters are Jewish, I'm a WASP...lol. So the warning came from Gracie, my eldest daughter, early on when I invested, she lived in Israel for one year. She said the mindset of Israeli people is survival, win at any cost, which I can understand from the history. So flipping this around from Oren and Co. point of view they need to win and if Australian investors pour money into MOB while they accumulate losses and are diluted then who are the schmucks ? We are ! We didn't have to invest, it's buyer beware. Lesson here is don't get seduced by a great tech theme until you have done due diligence on management. My bad for not reading the prospectus before investing,,,,bonus to Oren and Co of $250K each first red flag then remuneration of two at x 2 peer level was the second red flag. I've done all this analysis in reverse to learn the mistake I made recommending the stock.
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