US Stem Cell Inc (USRM)

[Dragon Lady]

Bonuses given to Tomas and Comella add up to more than all "revenues" reported for the year- meaning all that money is gone, not going to "research" or "trials" or anything like that, IMO.

It states the BOD had a "range" to pick for the bonuses, and picked the maxed out, top of the range (what a surprise IMO?)

$500K for Tomas and $300K for Comella. That's $800K in "bonuses" now promised.

Most recent 10-Q page 5 (revenues to date for 2014)
Revenues - cost of sales = $819,606 - $201,565 = $618,041.

So the BOD IMO, took all the revenue brought in to date in 2014, and just turned around and promised to pay out more than that amount in "bonuses" to just 2 people in the company. All while they finish the qtr with only $92K total cash left on the books. Makes ZERO sense IMO. But not surprising to me in the slightest.

Friday filed 10-Q Page 25:

"NOTE 13 — SUBSEQUENT EVENTS

Officer compensation

On July 28, 2014, the Company’s Board of Directors approved the 2014/2015 salary for Mike Tomas, Chief Executive Officer, at $525,000 per year, beginning July 1, 2014 with an incentive bonus ranging from $150,000 to $500,000. In addition, the Board of Directors will grant Mr. Tomas options to be determined on or before June 30, 2015. The Company’s Board of Directors approved a bonus of $500,000 and options to acquire 10,000,000 shares of the Company’s common stock for ten years with four year vesting and a cashless exercise provision at an exercise price equal to the five day average closing price of the Company’s common stock as of August 1, 2014. The cash bonus may be paid in the form a six month promissory note.

On July 28, 2014, the Company’s Board of Directors approved the 2014/2015 salary for Kristin Comella, Chief Scientific Officer, at $250,000 per year, beginning July 1, 2014 with an incentive bonus ranging from $100,000 to $300,000. In addition, the Board of Directors will grant Ms. Comella options to be determined on or before June 30, 2015. The Company’s Board of Directors approved a bonus of $300,000 and options to acquire 5,000,000 shares of the Company’s common stock for ten years with four year vesting and a cashless exercise provision at an exercise price equal to the five day average closing price of the Company’s common stock as of August 1, 2014. The cash bonus may be paid in the form a six month promissory note." "