Post by luxetvox on Mar 4, 2024 14:31:01 GMT
Well the 10-K was officially filed yesterday. The Proxy Statement (DEF 14A) came out on Friday, and another filing called Proxy/Voting Matters was made yesterday. I have neither the time, nor interest, in comparing the two to see if there is any material difference, or they are just different names for the same thing.
There are one or two people left on this board who still won't come out and say that Phil Frost is a terrible, failed CEO. You continue to defend him over on Yahoo. And please don't say that you don't, because you name call anyone who points out the failures and foibles of Frost, labeling them a liar or a short, or some other puerile name. You won't acknowledge the following things: Frost's reputation as a penny stock player, his association with characters who have been cited by the SEC for securities violations, his unequivocally atrocious track record as a CEO, and his bumbling amateur record in both M&A (BRLI, sale of GeneDx) and capital formation (death spiral converts). It is not market manipulation that accounts for the price of the stock. It is the cocktail of the things I just listed which some folks here, ,and you know who you are, simply won't state as the facts which account for the all time low stock price.
You will cite that I point out these....facts....ad nauseam. You're right. Because those are the only things that are important, as opposed to some uniformed silly wild ass guesses about the 'value' of Opko stock. There's no need, for example, to try and impress anyone with some completely arbitrary made up number of the price Vifor would pay (lol) for the global rights to Rayaldee. No one is buying it, except for a couple double digit IQ commenters on Yahoo. So I'll point out facts, like the ones below, as often as I like until that bastard Frost is gone, one way or the other. And you can now prepare for yet another defense.
I encourage everyone, especially the faithful, to go through the Proxy Statement and check what the Opko clowns paid themselves last year. For those who want the short version:
Frost: $960,000 salary + $480,000 bonus (cash) + $824,000* (value of options) +$13,200**(401k contribution, because they need it)
*Reflects the aggregate grant date fair value computed in accordance with FASB ASC Topic 718. The assumptions usedin calculating the amounts are discussed in Note 10 of the Company’s audited financial statements for the year endedDecember 31, 2023 included in the Company’s Annual Report on Form 10-K filed with the SEC on February 29, 2024.
**Includes contributions made by the Company under its 401(k) Plan during fiscal 2021 in the amount of $11,600 for eachof Drs. Frost and Hsiao and Messrs. Rubin and Logal, during fiscal 2022 in the amount of $12,200 for each of Drs.Frost, Hsiao, and Zerhouni, and Messrs. Rubin and Logal and during fiscal 2023 in the amount of $13,200 for each ofDrs. Frost, Hsiao, and Zerhouni, and Messrs. Rubin and Logal
Jane: $900,000 + $450,000 + $824,000 + $13,200
EZ: $900,000 + $450,000 + $824,000 + $13,200
Rubin: $810,000 + $400,000 + $721,000 + $13,200
Logal: $700,000 + $375,000 + $721,000 + $13,200
The defenders of the realm may point out that these execs deserved some meaty comp since the stock was up 20% in 2023. But then if one takes a couple things into account, the real picture emerges. First, the 20% gain was from...$1.25 to $1.51 (12/30/22 thru 12/29/23). And then there was the New Year Nukalar Explosion that Frost bestowed on us 5 days after steering his company to that amazing 20% return, which left the stock more than 33% lower after his incineration.
There's something amiss in these comp numbers. Dr Zerhouni's job was rather well defined. He was tossed onto Phil's sinking ship called BRLI, and spent the year bailing water from the leaks Frost made blasting into the hull. Oh, and he was also leading the research on the drugs he's been developing for about 10 years. Steve Rubin, who brought home nearly as much as Elias, was......well, he was making coffee or picking it up for the office. Logal was at least preparing financials. Jane was, I'm not sure since that's never been defined; but whatever it is, she was paid over $2 million for it. Frost? Well he was busy trading stocks.
Is there any further evidence one needs to realize what's going on at Opko. If I were EZ, I'd be exhausted (which he clearly was judging by how he looked on our call), and pissed. Jane was paid as much as he was, and she and Frost have lost EZ over $100 million.
Looking at the recent filings, I was nonplussed by one thing. In neither document was there a mention of the name change for Opko, that being One Dollar Drug Company, or ODDCO. I thought for sure there would be a proposal, after the "Say On Pay" to rename the enterprise to better reflect the price around which the stock orbits.
There are one or two people left on this board who still won't come out and say that Phil Frost is a terrible, failed CEO. You continue to defend him over on Yahoo. And please don't say that you don't, because you name call anyone who points out the failures and foibles of Frost, labeling them a liar or a short, or some other puerile name. You won't acknowledge the following things: Frost's reputation as a penny stock player, his association with characters who have been cited by the SEC for securities violations, his unequivocally atrocious track record as a CEO, and his bumbling amateur record in both M&A (BRLI, sale of GeneDx) and capital formation (death spiral converts). It is not market manipulation that accounts for the price of the stock. It is the cocktail of the things I just listed which some folks here, ,and you know who you are, simply won't state as the facts which account for the all time low stock price.
You will cite that I point out these....facts....ad nauseam. You're right. Because those are the only things that are important, as opposed to some uniformed silly wild ass guesses about the 'value' of Opko stock. There's no need, for example, to try and impress anyone with some completely arbitrary made up number of the price Vifor would pay (lol) for the global rights to Rayaldee. No one is buying it, except for a couple double digit IQ commenters on Yahoo. So I'll point out facts, like the ones below, as often as I like until that bastard Frost is gone, one way or the other. And you can now prepare for yet another defense.
I encourage everyone, especially the faithful, to go through the Proxy Statement and check what the Opko clowns paid themselves last year. For those who want the short version:
Frost: $960,000 salary + $480,000 bonus (cash) + $824,000* (value of options) +$13,200**(401k contribution, because they need it)
*Reflects the aggregate grant date fair value computed in accordance with FASB ASC Topic 718. The assumptions usedin calculating the amounts are discussed in Note 10 of the Company’s audited financial statements for the year endedDecember 31, 2023 included in the Company’s Annual Report on Form 10-K filed with the SEC on February 29, 2024.
**Includes contributions made by the Company under its 401(k) Plan during fiscal 2021 in the amount of $11,600 for eachof Drs. Frost and Hsiao and Messrs. Rubin and Logal, during fiscal 2022 in the amount of $12,200 for each of Drs.Frost, Hsiao, and Zerhouni, and Messrs. Rubin and Logal and during fiscal 2023 in the amount of $13,200 for each ofDrs. Frost, Hsiao, and Zerhouni, and Messrs. Rubin and Logal
Jane: $900,000 + $450,000 + $824,000 + $13,200
EZ: $900,000 + $450,000 + $824,000 + $13,200
Rubin: $810,000 + $400,000 + $721,000 + $13,200
Logal: $700,000 + $375,000 + $721,000 + $13,200
The defenders of the realm may point out that these execs deserved some meaty comp since the stock was up 20% in 2023. But then if one takes a couple things into account, the real picture emerges. First, the 20% gain was from...$1.25 to $1.51 (12/30/22 thru 12/29/23). And then there was the New Year Nukalar Explosion that Frost bestowed on us 5 days after steering his company to that amazing 20% return, which left the stock more than 33% lower after his incineration.
There's something amiss in these comp numbers. Dr Zerhouni's job was rather well defined. He was tossed onto Phil's sinking ship called BRLI, and spent the year bailing water from the leaks Frost made blasting into the hull. Oh, and he was also leading the research on the drugs he's been developing for about 10 years. Steve Rubin, who brought home nearly as much as Elias, was......well, he was making coffee or picking it up for the office. Logal was at least preparing financials. Jane was, I'm not sure since that's never been defined; but whatever it is, she was paid over $2 million for it. Frost? Well he was busy trading stocks.
Is there any further evidence one needs to realize what's going on at Opko. If I were EZ, I'd be exhausted (which he clearly was judging by how he looked on our call), and pissed. Jane was paid as much as he was, and she and Frost have lost EZ over $100 million.
Looking at the recent filings, I was nonplussed by one thing. In neither document was there a mention of the name change for Opko, that being One Dollar Drug Company, or ODDCO. I thought for sure there would be a proposal, after the "Say On Pay" to rename the enterprise to better reflect the price around which the stock orbits.