The Company’s Board of Directors agreed that it would provide compensation to Mr. Kennedy beginning in 2015, however the amount of compensation had has not yet been determined. The Company also agreed to provide Mr. Kennedy with health insurance starting in November of 2014. During the year ended December 31, 2014 the Company paid $417 in health insurance premiums for Mr. Kennedy. As a part of his duties as CEO, Mr. Kennedy is required to travel extensively on Company business as the Company’s dive operations are on the east coast of Florida and the Company’s headquarters are located on the west coast of Florida. The Company decided that it would be less expensive for Mr. Kennedy to use his personal vehicle than to lease him a car. In lieu of leasing a car for Mr. Kennedy to use for Company business, Mr. Kennedy uses his personal vehicle for Company business. The Company provides Mr. Kennedy with periodic expense advances and reimbursements, including travel reimbursements for mileage and fuel for the use of his personal vehicle for Company business and reimburses him for various other Company business related expenses. The Company also paid $5,713 in 2014, $3,890 in 2013, $5,490 and in 2012 for Mr. Kennedy’s cellular telephone, text, and wireless data plan.
Now here's the vessel expense from page F-3.......
Vessel expense $ 89,631
Now travel and entertainment fro page F-3 as well......
Travel and entertainment expense $142,792
http://www.sec.gov/Archives/edgar/data/110621...-06335.htm
How is it it cost more for Kyle to travel than it does the crew to operate? Or am I reading that wrong?
And are you admitting it's been stated Kyle has invested MILLION$ of his own money?
I know Kyle said $9MM had been invested in the Madhouse TV infomercial, but I think that's a bit misleading. Making around $50K on $1700 worth of interest and then "re-investing" from profits via convertible notes isn't exactly "investing".
Now here's the vessel expense from page F-3.......
Vessel expense $ 89,631
Now travel and entertainment fro page F-3 as well......
Travel and entertainment expense $142,792
http://www.sec.gov/Archives/edgar/data/110621...-06335.htm
How is it it cost more for Kyle to travel than it does the crew to operate? Or am I reading that wrong?
And are you admitting it's been stated Kyle has invested MILLION$ of his own money?
I know Kyle said $9MM had been invested in the Madhouse TV infomercial, but I think that's a bit misleading. Making around $50K on $1700 worth of interest and then "re-investing" from profits via convertible notes isn't exactly "investing".
