He was paid $1.00 for his first six months of employment. Since then it appears that aside from running the company rent-free from his bungalow within walking distance to the Arkansas River in Tulsa, he has spotted the company the funds it needs to keep its, er, HIS OWN lights on.
Appears that he has sunk a lot of his own money into the company, which I'm guessing he wants back at some point. He apparently needs no income to live on, and will somehow attempt to get the money he's owed. Looks like they might owe the previous CEO some serious cash, too.
They have an accumulated deficit over the years of over 18,000,000.00.
So many convertible notes in the last Annual Report that he must have run out of paper to list them on.
So, he doesn't need the money, he has the prestige of being a CEO of a publicly traded company, and he might just go fishing or golfing all day, every day, with the expectation of being paid back.
Again, he needs no money, and I'm guessing that therefor he has NO INCENTIVE to do much for shareholders.
So how is this not a good gig for him as he approaches his truly golden years?
Feel free to browse through the fins for yourself, and feel free to dispute anything, as I may be reading them wrong, and I may be wrong. Not intending to diseminate false or misleading info, just putting it out there as I see it.
Disclaimer: all of this is in my opinion, and from how I interpreted the financials, etc., and it is open to errors which I will be happy to correct, OT rescind, So, please do point them out, if any, and I will be happy to rescind anything I mistook in any way.
Last post today.
Good day.
