Kwok is given 167K a year?!?!?! That means Chan has to make at least that much! Thats almost 400K a year in salaries for just the top two employees. Not to mention what the Board of Directors takes off the top...
Umm shareholders, we only have 439K in the bank! And we still have to pay 12 employees weekly salaries, and our landlord wants his 10.5K on time every month...and Auxin wants their payments for supplies and assembly in a timely manner (and if WEST is doing a million in sales, then WEST has to be ordering a million dollars in supplies). Com Ed and Comcast would like not to cut off WEST utilities, so payments are expected. Not to mention these trade shows have to be expensive, and our sales dept Im sure has expenses traveling around drumming up business.
Lets top this with the fact that the share price is WELL BELOW the .0179 that Southridge has set. That means that at .0179 the absolute most Chan can draw is 1.3 millions dollars. That ratio goes down as the share price drops...and its down a gruesome 20%. That means that we CANNOT draw enough to cover monthly expenses.
This is what you call real time application of how dire the situation is. You can post 1 tier manufacturers, solar installs in Florida, and Hyundai MOUs all day long, but in the end, they are insolvent.
Folks we have lost cabin pressure. Time to put on the oxygen masks to prevent hyperventilation from watching your investment go to ZERO.
Sorry, just facts, no opinions.
AI
