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And Berge is making record earnings how? Not

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Ludar   Monday, 08/11/14 01:28:06 PM
Re: anian post# 96542
Post # of 118746 
And Berge is making record earnings how? Not saying he's living on food stamps in a 1 room hut but he's not skimming nearly the money most sub penny pinkie CEO's take for themselves. The company still owes him money.

From the 10-Q:

Quote:
The Company receives periodic advances from its principal stockholder based upon the Company’s cash flow needs. At March 31, 2014 and December 31, 2013, $144,011 and $153,550, respectively, was due to the shareholder, including accrued interest. Interest expense is accrued at an average annual market rate of interest which was 3.15% at March 31, 2014 and December 31, 2013, respectively. No terms for repayment have been established. As a result, the amount is classified as a Current Liability.



Quote:
Effective November 3, 2011, the CEO notified the Company that for the one year period, retroactive from April 1, 2011, through December 31, 2012, he would reduce his Base Salary to $100,000. The reduction in base compensation was subsequently extended to December 31, 2013. The CEO also deferred a portion of his salary to conserve cash. Deferred wages due to the CEO amounted to $70,649 and $50,000 for the periods ended March 31, 2014 and December 31, 2013, respectively.



Hell, I'm a nobody controls enginner and with the help of a little overtime and travel, I made over 100k last year.

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