I just read this article on Gizmodo regarding the 1000% surge in stock price for MGT. Very interesting tale. John McAffee (anti-virus pioneer) was appointed CEO of a $0.55 pps company MGT. Within days, stock sky rockets 1000%.
According to a public SEC filing, McAfee also has a consulting arrangement with MGT Capital—he’s the “Consultant” cited in the following excerpt. The “Management Consulting Agreement” states that if the stock price of MGT Capital “is equal to or greater than $1.00 for each of ten consecutive trading days on the NYSE MKT exchange, then Consultant shall be entitled to receive a cash bonus in the amount of $250,000.” The deal gets even sweeter: If the stock price “is equal to or greater than $2.00” for ten consecutive trading days, McAfee gets an additional $350,000 cash bonus, all to be paid within 30 days.
That’s a pretty hefty chunk of change for ten days of work.
Well, it looks like McAffee earned his consulting fee!!
If it's this easy, why can't a bunch of square doctors do this? Bad business men but phenomenal with examining cultures in Petri dishes!
It's clever "marketing" initiatives like this that still give me hope for a 1000% increase in Cytori but at this stage, I'd need 15,000% to meet previous expectations.