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On4 Communications ONCI
(Total Views: 389)
Posted On: 05/17/2019 10:09:33 AM
Post# of 40991
Posted By: gopher broke
I see a lot of posts about how much money Steve Berman is taking from the company in salary and commission. If the company does well, he will do very well for himself but if the company doesn't collect cash for its goods and services, he will only have a bunch of loans to the company for which he won't be able to collect. (Page 12 of 19 January 31, 2019 Quarterly report - Due to Related Party - $2,564,980) He has a huge incentive for the company to do well and I think that is what we want as investors.

On page 6 of 19 on the January 31, 2019 Quarterly report, it shows all the loans he has made to the company with only a 5% interest rate. Here is a list of the ones since the beginning of 2018.
1/2/18 - $206,473
2/27/18 - $50,000
4/3/18 - $200,000
6/15/18 - $115,000
10/31/18 - $185,000
1/31/19 - $125,000
Total = $881,473

contrast that with the convertible debt taken out since the beginning of 2018
1/2/2018 - $50,000
2/6/18 - $12,500
2/28/18 - $5,500
7/2/18 - $25,000
Total = $82,000

He isn't taking money out of the company unless the company has the funds available. The business has expenses and the guy has to eat, right? Who would work 2-3 years for free? He is working tirelessly and the only thing he has to show for it are large loans and shares of stock that will only be worth something if the company does well.













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