I don't mean to sound repetitive but 100% of your answers are in the 10-q filing.
Use your CNTRL-F search function if you are are on a windows-based computer and look for key words such as:
$20,000
salary
nephew
You do all realize that I have personally, physically toward this vessel. I have personally, physically met with the CEO. The Vessel is rented out in much the same way as a hotel room would be for the evening, and with each rental, typical wear and tear occurs on things such as beds, couches, appliances, flooring, so on so forth. So it is extremely safe to say that The Luxuria is the equivalent of selling a used home. The CEO appears to be content with collecting nightly rental income and utilizing cash proceeds as part of his $20,000 a month salary. Obviously there is a very large overhang of convertible debt outstanding and these individuals are hitting the bid when volume increases. Remember, the ultimate goal since Inception was for the CEO to sell the vessel, service all outstanding debts and payoff these note holders so that any cash profits could be utilized towards the build-out of other vessels or the purchase of other vessels. As it stands presently, the only proceeds are derived from cash payments to rent out the vessel and the cash goes directly into the CEO's (and his wife's) pocket. It's truly a family affair. The CEO, his wife and the nephew as consultant. The best thing anyone could do would be to pull the bid and let this thing go to zero so the note holders could not convert. I'm just so happy I got out of this the day they issued that article in one of the papers and this thing popped.
The CEO is a very nice guy but he definitely definitely does not know how to run a publicly traded Enterprise. All he really had to do was just simply ask someone to put in a bid on the vessel and issue a press release saying that there may be a potential buyer, the share price would have run up and then he could have simply said they decided not to buy. But this guy is obviously a moron when it comes to knowing how to increase shareholder interest.
