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Post# of 68548
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deal guy

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deal guy

Re: OINGO BOINGO post# 54885

Thursday, 05/31/2018 5:01:55 PM

Thursday, May 31, 2018 5:01:55 PM

Post# of 68548
The only reason that this is possible is that they had $9k in cash at 9/30/17 and have the following fixed expenses

Rent $40-60k per annum plus utilities, oper exp and property tax
Accountants $22k per annum
Salaries $450k per annum for the two Kwaks and Siegel
CFO Salary $48k
Other Salaries for other employees

Even if they defer the Kwaks and Siegel's salaries (which they have done in exchange for shares before) there isn't enough cash to cover the other fixed expenses.

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