Joe got the OEM agreement alright but when it's turns out to be a worthless agreement you'll see that the money was in fact, not well spent.
I hope these new investors realize that the money they are putting up is really just to pay for Joe and his buddies.
"Right around the corner" is carny for "it's never going to happen on the scale that i promised".
No, not him, Bonaire.
This is him, just a salesguy:
Mr. Kozak joined ANTs from Oracle Corporation, where he was vice president of industry sales. While with Oracle he defined and executed global strategies for retail, distribution, life science, process manufacturing, and consumer packaged goods industries. He also managed Oracle's acquisition of Retek, Inc. a $630 million purchase in the retail applications space. Prior to Oracle, Mr. Kozak was CEO of Lombardi Software a manufacturer of business process management solutions. He was also a partner with Ernst and Young, LLP, in the retail and consumer packaged goods division; vice president of sales for SAP America, where he was responsible for the retail distribution and consumer goods business units for the Americas; and Mr. Kozak held numerous management positions with AT&T and IBM.
I have to say you sound just like Joe. Are you?
As a CEO, this guy does nothign but lie to investors in the words of cheerleading while going out and getting new risky investments. He didn't grow business and I got to say he probably has lost more business as CEO than before he became CEO. Resume says he was an Oracle salesguy before ANTs. Great qualification to run a public company.
Time will tell. Karma does exist, by the way.
It's called an incentive package, he earned the higher salary by achieving a milestone OEM agreement with IBM. That's business, and he was underpaid salary before this year. Guess you guys could have done better and had the vision and persistence to act on it and YOU wanted to be paid what, $150k a year, in line with a chief financial officer. ANTS sure blew it, they could have saved soooo much money... Yeah, right.
Why not wait until the company received material revenue before doubling his salary? Now we are paying Joe's salary with added dilution. Is that fair to shareholders like me and you? I'm all for a raise when it is based on revenue recognition.
This has to be the most ridiculous statement out of a bunch of ridiculous statements made on this board.
At $250K per year, he was still overpaid by $150K....now he gets $500K in salary alone. And even if he sold all his shares today, he would bank $500K+ .
Underpaid, my tuckas!!
<Remember, Joe wa underpaid his whole tenure at Ants prior to this year and his salary >
With all these 8-K's being filed, I sure how the bulls spin the news to say that ANTS can continually find new sources of cash, completely ignoring the fact that the dilution is getting way out of hand. Joe may be a great salesperson...if he could sell his programs as well as he can sell his stock, you bulls would all be millionaires right now.
You don't have to look to far too find out who BRG is. Look at the last sentence is this paragraph within the 8-K just filed.
"ANTs entered into an agreement with Fletcher International, Ltd. (“Fletcher”) on March 12, 2010, as amended on July 15, 2010 (the “Fletcher Agreement”). Pursuant to the Fletcher Agreement, ANTs sold shares of common stock and warrants to purchase common stock to Fletcher in March and July 2010, sold shares of common stock to Fletcher in May 2010 and issued shares to Fletcher for Quarterly Payments in April, July, October and December 2010. Also pursuant to the Fletcher Agreement, Fletcher is entitled to certain anti-dilution protections in the event the Company issued and sold shares of common stock at a price below that paid or deemed paid by Fletcher. The price per share of common stock sold to BRG under the BRG Agreement is below the price paid by Fletcher. As a result, the Company is required to issue to Fletcher an additional 4,146,169 shares of common stock. Further, the warrant to purchase common stock granted by the Company to Fletcher under the Fletcher Agreement (the “Initial Fletcher Warrant”) has been adjusted to reduce the exercise price of the warrant to $0.5261 per share (from $0.903). As a result, the Initial Fletcher Warrant now represents the right to purchase up to 19,007,793 shares at a cash exercise price of $0.5261 per share. The increase in the number of shares issuable to Fletcher under the Initial Fletcher Warrant also causes an increase in certain quarterly payments payable by the Company under the Fletcher Agreement. Specifically, for so long as any portion of the Initial Fletcher Warrant remains outstanding, and commencing on March 31, 2010, the Company is required to pay to Fletcher on each March 31, June 30, September 30 and December 31, a quarterly payment equal to: the product of (A) the quotient of (x) the remaining unexercised amount of the Initial Fletcher Warrant as of the third business day preceding such quarterly payment date (initially $10,000,000), divided by (y) the warrant exercise price as of the quarterly payment date ($0.5261, as adjusted), multiplied by (B) $0.01 per share (each a “Fletcher Quarterly Payment”). The adjusted Fletcher Quarterly Payment is $190,078. The Company has the right to pay the Fletcher Quarterly Payment in cash or shares of common stock based on a formula set forth in the Fletcher Agreement. Fletcher and BRG are related entities."
Pretty sneaky (or smart if you are Fletcher) of Fletcher to use a related party to get it's own agreement revised. Caused ANTS to issue another 4.1 million common shares to Fletcher and reduce their potential warrant cost by 40%.
Translation: Regular shareholders get screwed to the nth degree but you at least get some cash to keep the doors open long enough until the next screwing.