Approach Resources, Inc. (NASDAQ:AREX) Q1 2019 Earnings Conference Call Transcript
May 10, 2019 • 11:00 am ET
(Operator Instructions) We have a question or comment from the line of David Stanwick (ph) from -- he removed himself from the queue.
(Operator Instructions) We have a question or comment from the line of David Stanwick, a private investor.
Yeah. Thank you. I have two questions. The first question is, in view of the fact that the Company has lost over 90% of its shareholder market value over the past year, I would just like to know, if possible, why the directors decided to reward the CEO and give him $1.8 million on a six-month consulting agreement?
And my second question, if you can answer, you might not be able to, is that, with the results today, what reasons can you give us and maybe potential new investors to continue to buy the stock, especially when you have all these problems and the market suggests bankruptcy? I'm just asking them as an interested and a long-term shareholder. Thank you.
Yeah. We understand your question. At this point, we cannot provide comments on negotiations relating to the transaction, and we'd refer you to our current quarterly filings that we will be filing later today for additional disclosure relating to these items.
Okay. As respect to the CEO, you can't either, even though it's not part of your negotiations going forward.
No, we cannot. Again, we have filed on the SEC website some of the arrangements related to the departure of those executives, and would encourage you to refer to those documents.
No, I already have. And so, I was just wondering what the reasons are. But I won't argue the fact, I wish you a lot of luck as a shareholder.
Thank you very much.
Thank you. I'm showing no additional questions in the queue at this time. I would like to turn the conference back over to management for any closing remarks.
Thank you very much for your interest in Approach, and we look forward to talking to you next quarter.
Ladies and gentlemen, thank you for participating in today's conference. This concludes the program. You may now disconnect. Everyone, have a wonderful day.