Bots Inc (BTZI)

[lesgetrich]

Here's more...

At least $300+k drained from "net cash" just for salary between Hawkins and The Shyster.

Paul and Mike Hawkins each get paid a salary of $150,000/year. For the first three years, Paul took no salary at all. Salary gets expensed and paid as it's earned. It is recorded in Operating Expenses and subtracted before net cash is calculated.

Paul, Mike and Ron Sassano get paid a bonus based on performance of the company. The bonus cited gets calculated based on the fiscal year end which is April 30 2017 and is less than 1% (.5% of revenue plus .25% of growth) of gross revenue and a 1.5% of net profit. They just announced gross revenue for the year of $4.5 million, an increase of roughly $2,777,000. Their net profit was announced as approximately $1,500,000.

Based on those numbers, each exec would get .005 x $4,500,000 = $22,500 plus .0025 x $2,777,000 = $6,942 plus .015 x $1,500,000 = $22,500 for a grand total of $51,942. Moreover, the bonuses aren't paid until September and can be paid in either stock or cash depending on what the Board of Directors decides. Consequently, only an additional $155,826 needs to be expensed in September for bonuses in total for all three of these top execs, by which time the company will be even more profitable than it is now. They currently have $1.6 million cash on hand.

Debunked once more