Hmmmmm, might have to sell a few machines to cover
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Posted On: 12/16/2019 11:18:25 PM
Hmmmmm, might have to sell a few machines to cover this also...
OTE 11 – RELATED PARTY TRANSACTIONS AND BALANCES
As of September 30, 2019 and December 31, 2018, Richard Heddle, CEO is due $1,380,000 and $1,200,000 in accrued payroll, respectively, which is included in Accrued Officers Salary on the consolidated balance sheets.
At September 30, 2019 and December 31, 2018, the company’s accounts payable and accrued expenses included $132,217 outstanding balance due to Heddle Marine Services, a business controlled by Mr. Richard Heddle, the company’s Chief Executive Officer and member of the Company’s board of directors. The amounts payable arose from payments made in 2014 by Heddle Marine on behalf of the Company to a logistics company to transport fuel from the Niagara Falls site to the blending tanks at our facility in Thorold, Ontario, as well as for labor and material provided by Heddle Marine towards upkeep of our Canadian facilities including 2015 cleanup costs incurred in order to terminate the lease with Avondale properties on the discontinued (RRON) Operation.
$15,000 a month to run a shuddered business. Sure glad he has ALL the shareholders best interest in mind. Some are correct....one thing Heddle is not is stupid. Especially when it comes to taking care of himself.
OTE 11 – RELATED PARTY TRANSACTIONS AND BALANCES
As of September 30, 2019 and December 31, 2018, Richard Heddle, CEO is due $1,380,000 and $1,200,000 in accrued payroll, respectively, which is included in Accrued Officers Salary on the consolidated balance sheets.
At September 30, 2019 and December 31, 2018, the company’s accounts payable and accrued expenses included $132,217 outstanding balance due to Heddle Marine Services, a business controlled by Mr. Richard Heddle, the company’s Chief Executive Officer and member of the Company’s board of directors. The amounts payable arose from payments made in 2014 by Heddle Marine on behalf of the Company to a logistics company to transport fuel from the Niagara Falls site to the blending tanks at our facility in Thorold, Ontario, as well as for labor and material provided by Heddle Marine towards upkeep of our Canadian facilities including 2015 cleanup costs incurred in order to terminate the lease with Avondale properties on the discontinued (RRON) Operation.
$15,000 a month to run a shuddered business. Sure glad he has ALL the shareholders best interest in mind. Some are correct....one thing Heddle is not is stupid. Especially when it comes to taking care of himself.
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