The bashers will have you believe that Steve is ta
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Posted On: 06/18/2019 11:09:09 AM
The bashers will have you believe that Steve is taking money from the company using several made up stories including pumping up fictitious sales so he can collect commission or flying around the country spending all the shareholder's money.
Look at the last page of the financial statements (page 19 of 19)which compares the amounts due to Related Party (Steve Berman). For the first 6 months of this fiscal year.
"Accrued but unpaid compensation" increased by $120,000 ($20k per month for 6 months). Meaning he has not paid himself one dime in salary. If the company does well he will get paid down the road but during this growth stage, he is leaving it in the company to pay the bills.
"Accrued but unpaid sales commissions" increased by $364,486 during the 6 months. Divided that number by 12.5% and you get $2,915,888 which just so happens to be the total sales for the first 6 months with a few dollars of rounding. Once again he has not paid himself anything in commission.
"Unreimbursed business expenses paid by the CEO" increased by $205,490 during the first 6 months. So all those saying he is flying around the world on the investors dime couldn't be more wrong, he is paying for a lot of it out of his own wallet.
"5% loans to the Company" increased by $175,873 during the first 6 months. Not only is he not paying himself a salary or commissions but he has used over $200k of his own money for business expenses and has loaned the company an additional $175k.
I understand some getting upset that he is taking out a few loans which will dilute our shares but he did just give back 1.4 billion shares.
So it comes down to who are you going to believe, a CEO who is fully invested in making this company grow but does some things you don't always agree with, or a few bashers who never say anything of substance but would do anything to get your shares for cheap? They are not here out of the goodness of their heart. Good luck to all.
Look at the last page of the financial statements (page 19 of 19)which compares the amounts due to Related Party (Steve Berman). For the first 6 months of this fiscal year.
"Accrued but unpaid compensation" increased by $120,000 ($20k per month for 6 months). Meaning he has not paid himself one dime in salary. If the company does well he will get paid down the road but during this growth stage, he is leaving it in the company to pay the bills.
"Accrued but unpaid sales commissions" increased by $364,486 during the 6 months. Divided that number by 12.5% and you get $2,915,888 which just so happens to be the total sales for the first 6 months with a few dollars of rounding. Once again he has not paid himself anything in commission.
"Unreimbursed business expenses paid by the CEO" increased by $205,490 during the first 6 months. So all those saying he is flying around the world on the investors dime couldn't be more wrong, he is paying for a lot of it out of his own wallet.
"5% loans to the Company" increased by $175,873 during the first 6 months. Not only is he not paying himself a salary or commissions but he has used over $200k of his own money for business expenses and has loaned the company an additional $175k.
I understand some getting upset that he is taking out a few loans which will dilute our shares but he did just give back 1.4 billion shares.
So it comes down to who are you going to believe, a CEO who is fully invested in making this company grow but does some things you don't always agree with, or a few bashers who never say anything of substance but would do anything to get your shares for cheap? They are not here out of the goodness of their heart. Good luck to all.
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