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ERF Wireless, Inc. Message Board

  • berts_shadow berts_shadow Aug 8, 2010 3:25 AM Flag

    No conversation about 2010 Stock Option Plan?

    25,000,000 million shares with a strike price of only $0.04 each being optioned to employees/officers in 2010. This equates to common stock dilution of 13%, but that's not a problem for any of you baggies? Come on, even the biggest slack-jawed imbeciles among you have got to have a problem with this one! Just how much incentive do these dirt bags at ERFW need to perform their jobs? They're already getting incredibly hefty salaries and bonuses ("money for nothin" given the Company's massive losses year after year), and they already hold hundreds of thousands or millions of stock options each, but now they need another 25M, and at a strike price of 4 cents!!!

    The strike price alone should give you baggies reason to pause. 4 cents?

    Sorry to say it, but you baggies are fools, absolute fools.

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    • wait...i'm the idiot that bought someone's shares at 8 cents this morning. now i'm looking for comfort on a message board. Now, I am the dummy, hands down.

    • nick777@rocketmail.com nick777 Aug 8, 2010 9:26 AM Flag

      Bert, there you go again spreading lies about something you fully well know the truth. All public companies have employee stock option plans. The amount of stock that is registered is unimportant since the stock stays in the treasury until it is actually issued.--Usually over a period of multiple years since the registration does not have a time limit. The price of .04 cents on the registration has nothing to do with the option price to employees but is just the price of the stock at the time of registration and is used to compute the registration fee to the SEC. Another one of Burts attempts to distort the truth--You need to do better than this to earn your fee Burt.

      • 2 Replies to nick777
      • <<All public companies have employee stock option plans.>>

        Yes, most do. Most public companies also have a couple of independent directors on their boards to look out for shareholder interests, but ERFW doesn't. Most public companies also have a formal Code of Business Conduct and Ethics, but ERFW doesn't. They have lied for years about adopting such a code "within the next twelve months." Such a code, if it had any meat to it whatsoever, would clearly be counterproductive to ERFW's purposes and that is why it will never happen.

        <<The amount of stock that is registered is unimportant since the stock stays in the treasury until it is actually issued.>>

        Wrong! The registered stock is IMMEDIATELY dilutive. It won't count as "float" however, until it is actually issued. (Take Finance 101 and then report back to me.)

        <<the registration does not have a time limit.>>

        Wrong! "1.3 Effective Date of Plan. The Plan shall be effective June 1, 2010 (the "Effective Date"). No Award shall be granted pursuant to the Plan ten years after the Effective Date."

        <<The price of .04 cents on the registration has nothing to do with the option price to employees but is just the price of the stock at the time of registration and is used to compute the registration fee to the SEC.>>

        On August 4, 2010, 69,450 stock options were issued to Greg Smith and 125,000 to Michael Jones, all under this plan and all with a strike price of six cents each.

        On June 12, 2010, 104,175 stock options were issued to Greg Smith and 187,500 to Michael Jones, all under this plan and all with a strike price of four (yes, four) cents each.

        ERFW will issue all of the registered stock options and will do so at a strike price that is equal to or less than the then current market price of the common shares. This is not only ERFW's historical MO, it is what they have just done. ERFW's 2010 Stock Option Plan has nothing to do with incentivizing officers, directors or employees to do a better job. It is about spreading the wealth around at shareholder expense.

        Now, give your address so that I can invoice you for my fee, you ignorant dweeb.

      • Bert feels that those of us who quickly doubled our money in recent days are fools not to subscribe to his nonstop idiocy.
        One of his alter-egos proclaimed himself of the Wharton school, and I hope his mum gets a refund on tuition...

 
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