Oct. 24 at 12:49 PM
$SBFM people who don’t understand why Longs here have little to No faith in the current management, good example:
Sunshine Biopharma’s latest DEF 14A reveals severe shareholder control imbalance and major dilution risk. CEO Dr. Steve Slilaty holds 130,000 Series B Preferred shares, each with 1,000 votes, giving him over 96% of total voting power—leaving common shareholders with virtually no say in company decisions. The board is also asking “investors to approve” a massive increase in its 2023 Equity Incentive Plan, from just 1,661 shares to 683,000, a move that could dilute existing shareholders by more than 13%.
Combined with repeated auditor changes, insider-friendly preferred stock issuances, and no separation between CEO and Chair, this filing underscores a deep governance imbalance and high risk for minority shareholders.
Why hit us with an increase like this when they should be focusing on such programs after becoming profitable, not further dilution on shareholders backs.
