Aston – I agree that E & F are raping us shareholders of any possible profits to FMLY bottom line. They have set this company up to their benefits not us shareholders.
Shareholders on this board own around 35% of voting shares and we must all send management our vote of NO! on our proxy vote, everyone must vote no. If we could convince ether Longview or Alpha Capital for a No vote unless E & F give up their monopoly of the FMLY revenue – that would help. Anyone have a contact?
Notes: copied from FMLY’s proxy, 8-k & 10ksb
Through June 30, 2005, FMLY paid George Furla $413,758 and Randall Emmett $559,609
FMLY’s chief executive officer and chief operating officer have contractual arrangements with FMLY that provide for their compensation based 20% - George Furla and 33% - Randall Emmett) of the net producers fees earned by the Company. Net producers’ fees are gross fees, less approved direct costs incurred by the Company to provide the underlying services. During the years ended June 30, 2005 and 2004, these executive officers received compensation totaling $973,367 and $322,150, respectively, under these contractual arrangements.
In May 2006, we received $1,000,000 for bonus producer fees of which $600,000 was
paid out to executive officers under their contractual arrangements. That 1,000,000 bonus was filed in their 10ksb and my math tells me that 60% - that’s too much when us shareholders pay all the cost that generated that bonus. Also 60% is more then what they E&F has stated as their producers fees list above as 33% and 20%
Aston - Do you have any proof that management has shut down RaginBull? I have not been able to view any posts for weeks. May Investors Hub will be next.
