Evidently, you are new to this message board, as Khris Smith acknowledged in his question to me that started all this, I have consistently contemporaneously raised concerns regarding management compensation, especially in 2010 and 2011 when they paid themselves millions in bonuses and stock options. At the time, many others on this board raised similar concerns. Historically I also addressed my compensation concerns directly with management. A settlement may also tell us something about each party's assessment of the risks of litigation and the strength of their respective legal positions. The stronger your legal position and less likely you will lose the litigation, the less you compromise in a settlement. The weaker your legal position and the more likely you will lose the litigation, the more you will give up in a settlement. In this settlement, management paid back 100% of their after tax bonuses in 2010 and 2011 and gave up half their stock options. Draw your own conclusions.
Your history of the company was a nice work of fiction. Where did you come up with management rolling over their $20 to $30 million investment in Photogen to Provectus? Have you read all the Edgar Photogen filings in 2002 relating to the split? Did you read the settlement agreement between Photogen and Dees, Wachter and Smith? I have, and I can't see where you came up with the $20-$30 million. Their early PVCT stock options were exercised at 32 cents, 64 cents and 75 cents. The FDA rule changes you referred to were made to expedite FDA approvals, and the FDA approved more drugs annually after the changes than before....FDA changes can't be used as an excuse for slowing down the PV-10 approval process. You made no effort to get your historical facts right, so I am equally lazy and won't waste my time addressing all your errors. |
