Yep, If he wasn't getting what was due to him, he should have sued the company to get it.

Contacting the SEC and going public with this is outrageous. This was very nearsighted at best. Down right ignorant at worst - IMO.

d. Employee acknowledges and agrees that the Company is a business with limited revenues and, accordingly, Employee agrees that unless the Company generates at least three million dollars (US$3,000,000.00) from its intended capital raise, Employee shall accept as compensation for all services rendered, the hourly minimum wage as then applicable under Florida law for the total sum of 40 hours per week worked in such month.