Bloomberg/BusinessWeek reported that Mike O was paid $470K in 2012. That is a good reason to hang around and not have to show positive results for your shareholders. Mike has so much faith in the company that he owns 49K shares that cost him $4900. He has received 3.5 m options at .15/sh. He, to my knowledge, was never a CEO prior to SCIE.
My main beef with him is his lack of ability, after over 2 years, to not be capable of raising any funding with investment banks which is one of his key responsibilities. No Capital, No Production of WavSTAT, No Sales!
The Board must take action on Mike and Jim. If not, it is time to face up to taking a tax loss.
incompetence and "lack of ability" are not a good combination. I am wondering if PENTAX was already in the works before this goof-ball came on the scene. That contract alone is what he used to entice "investors" into the mind bending quantity of OBLs that he brought selfishly to the table to cover his 500k in salary/bonuses. Just a thought...