They can justify them fine.Their salaries are not based on if a new drug will work or not.Their salaries are based on years and years of previous employment and their resume, research, education at Ivy league schools, and their management ability.Profit for a company is fluid not static.
But you and your colleagues are the only ones profiting...and handsomely. Now all that has to be assessed is if it has been truthful innocence or blatant lying and just how rico you guys are getting on this otherwise "static" research site. You've showcased your money taking abilities, not any money-making abilities wonder what would happen if this was the Post Office?
Just read through some of the SEC filings...I wouldn't be surprised if somebody asks the FBI to look into this. Somebody mentioned lawsuits in a post. I think this has gone way past that. It is curious that the company has not issued any sort of communication regarding the apparent recent stock manipulation and managements' release of information on Monday. Someone was front running on the release? When were the sell orders placed? Renz and Cole also increased their severance packages in January for what benefit to the Company? 18 months rather than 12. Some regulatory agencies will have to look into the 17 million share day. In fact Corrigan should have immediately called for an investigation into unusual activity and what he knew about pre announcement dissemination and knowledge. Cole? Does he have duties? Is he involved in any decisions? This is serious stuff that these folks are "overseeing." They arranged a 6 for 1 reverse split. Any reason given for 6-1? The only person legally responsible to shareholders is a Chairman that is not involved in any way shape or form in the company, except being Chairman of the Board. November 15 is a special day, as well. Anyone know why?
From what I see, they can't. Ideally, now with the stock price near a take out price of less than a luxury condo in Manhattan, this could attract attention. Combined, Corrigan and Renz would save a million. A V.P. at any Pharma co. could run the operation for $150k...You get an interesting array of income (albeit currently small), patents and an ongoing operation. Insiders have no allegiance (Corrigan only acquires stock through $0. options) to the company and really is nothing more than a $30k PR guy. Renz' duties are typically performed by a Junior Acct. Cole? Hey, they like the gravy train...so would you!