Perhaps Steve knows where this is going and has se

Perhaps Steve knows where this is going and has set up his and Joe's salary accordingly!  You do realize that for this K, the Clearvision airport deal is not included, right?  Currently, there are only 2 airports live and a 3rd about to be announced (see my post from this morning).  Steve indicated breakeven was at 5 airports.  12 will be up and running this year -- with more RFPs sure to come from others.  For PNCH to be one of the providers is a big deal.  They share in the advertising revs and don't have to do anything for it except provide content.  CC sells the ad space!!!

It is only right for the founders to make money -- especially Steve who is also the financial backer of the business, currently.  If all is done above-board, which remains to be seen, shareholders should make money too.  You cannot simply question motives because of how much they will be making.  I have seen WAY more for other CEOs with far less in revs and riskier prospects!!  Take a look at the biotech sector some time!!!  LOL

So, is PNCH a risk?  Sure.  But the reward can follow, if played well.  Increasing revs and no dilution is what I take away from the K.  All the other 'red flags' are typical SEC-expected stuff.

The bottom line is do you believe in where this is going or not.  The K is not going to answer that for you.  The PRs that have been released, along with what was reported from the upfront last night, just might.

Good luck, whatever you decide.