Posted On: 08/11/2014 6:53:20 PM
Post# of 9964
Wow..................
If true, no wonder many don't trust this company. Pay themselves hundreds of thousands while selling just a few thousand of product.
Quote:
Margrit's CEO timeline: - a fresh look.
Taken from EDGAR: 10-Q filings
- Margrit resigned on October 1, 2008
- Marani a $1 million dollar fresh credit line on October 1
- She was instantly paid $150K CASH when she quit - same day
- January 30, 2009: Paid: $75,000 cash to Margrit
- March 31, 2009 : Paid: $75,000 cash to Margrit
- June 30, 2009: Paid: $105,000 cash to Margrit
- August 3, 2009 Margrit: CEO reppointed again ! $180K a year salary + undisclosed bonus.
- March 2010: That Citibank $1million dollar credit line is spent. Balance: $999,556. Where'd it go? All gone. No records.
- March 2010: Filing shows: Stock based compensation: $5,826,925
This is when Marani had listed: $11,664 gross sales. About 500x what sales were.
Margrit has made millions for quiting and immediately getting rehired. She better ship and get the ball rolling. We better not dip into sub-penny. Time to step up and earn your keep - Margrit! The 74,000% rise in PPS does not count. All of us are RED except the few people left from trips. Company should not have gotten that low PPS and inactive.
If true, no wonder many don't trust this company. Pay themselves hundreds of thousands while selling just a few thousand of product.
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