JIMBOBNUT
"Define "take cash out" for us please".
The removal of cash from a: A Business, A Bank, an ATM, a pocket or any such place that cash cannot generally be seen but withdrawn. The BoD's own the business. They are entitled to 'take cash out' as they think fit for any purpose which they choose, such as bills, Salarys/Wages etc. All cash removed from a Public listed Company has to be accounted for and entered into the Filings (that's if you can find the filings!lol)
Any money removed from a business that cannot be directly accounted for can be assumed as 'Director's Drawings' and Taxed as appropriate.
If this doesn't define 'Take cash out' for you, then in what context do you think BeWary means? The term is simple: 'Take cash out' = Withdraw.
As far as 'Accusations' is concerned, BW was not 'accusing' anyone and you are making it sound as if 'they' are committing illegal transactions! BW was simply making a statement of observation. A simple observation because FLPC has virtually no money in their Bank Account, so the BoD cannot be 'accused' of anything except the perfectly legal act of withdrawing THEIR money as and when they like.
As the account is very low, don't you think that it is low because they needed it to try to improve their business? It is also low because they have made no profit and no transactions conducive to topping up the account with profit from cash flow. Maybe it's viewed upon by some as taking cash for frivolous spending, which of course is clearly NOT the case. It is also low because cash has not been used wisely otherwise the business would be making a profit......and it isn't! That's mismanagement over 5 years.
Because the Director's live in nice houses and drive nice cars, is because they are clever and experienced people in their field and over time, means they will have been paid excellent salary's which has allowed them to save some of their earnings and reap the benefits of their labours and life's work. They may all have been fortunate enough to receive substantial inheritances from deceased relatives which would mean that NONE of the cash has been removed from the account of FLPC for ANY other reason except to try to make their business good for the benefit of the Shareholders and all involved, and in a proper and business-like manner...or would you disagree?
