Also meant to add I have always had a general concern in respect to granting (mainly) "Performance Shares" and (sometimes) "Options" to Directors and/or Management (but not just CXX).
With CXX, I feel my concern has been justified (as per my previous post) and basically confirms these types of shares are just a license to print money! Not only that, but upon conversion - it has a direct negative effect on the rest of the shareholders.
I am sure they can come up with a more universally accepted way of rewarding those personnel who deserve it....instead of sh#tting on their shareholders. One way might be to pay a cash bonus out of the working capital/retained earnings - once operations are underway.
Not only might that preserve everyone's equity, but it might also discourage accepting a premature takeover while, at the same time, encouraging those intended recipients to embrace longevity in the job.
Just my opinions of course. Would appreciate others' opinions....
CXX Price at posting:
11.0¢ Sentiment: None Disclosure: Not Held
