Blum Holdings Inc (BLMH)

[Magnum7419]

Can anyone justify why the CFO has made millions each year ?


"First and foremost, those who address such matters are concerned with their compensation"

Lets simply take a look at the CFO's compensation for 2017 "the year of the lock out "

Michael James
"Executive Compensation
As Chief Financial Officer at TERRA TECH CORP., Michael James made $1,372,713 in total compensation. Of this total $200,000 was received as a salary, $0 was received as a bonus, $85,483 was received in stock options, $1,081,230 was awarded as stock and $6,000 came from other types of compensation. This information is according to proxy statements filed for the 2017 fiscal year."

https://www1.salary.com/Michael-James-Salary-Bonus-Stock-Options-for-TERRA-TECH-CORP.html

Many may not realize but for years Mike was CEO of another company at the same time as CFO for TRTC. No big deal right !!! well ask the shareholders of that company IMHO

Michael "Mike" James
Chairman/CEO/CFO, Inergetics Inc

Actually Mike has alot more hats to wear and maybe thats why TRTC gives him a car allowance of 6k a year . Mike lives in NJ and TRTC lives in Ca.

Career History
Chairman/CEO/CFO Inergetics Inc, 6/2012-PRESENT
Chief Financial Officer Terra Tech Corp, 2/2012-PRESENT
Managing Partner Kuekenhof Capital Mgmt LLC, 1999-PRESENT
Managing DirectorKuekenhof Equity Fund LP, PRESENT
Managing DirectorKuekenhof Partners LP, PRESENT
Chief Financial OfficerInergetics Inc, 7/2010-6/2012
Chief Executive OfficerNestor Inc, 1/2009-9/2009
Staff AccountantEisner LLP, 1980-UNKNOWN

Any one care to see the average salary of a Company such as TRTC...
I doubt it.........

What really amazes me is the fact TRTC is about to hire more accountants.

Shareholders have been warned about SG & A or COGS etc.......

"Director of Financial Reporting
Terra Tech Corp. - Irvine, CA
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Director of Financial Reporting

The Director of Financial Reporting supports the business by providing information and financial analysis of Gross Margin and SG&A expenses and other information relevant to ensure that the company’s profit objectives are brought to fruition."

IMHO some will spill their coffee on the above.....

There is more.........

"Senior Accounting Manager
Terra Tech Corp. - Irvine, CA
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Senior Accounting Manager

The Senior Accounting Manager directs and organizes all general accounting activities of the accounting staff. This role ensures that the organization’s accounting systems are in control and takes necessary steps to minimize risk to the organization.

Essential Functions:


Provides oversight and guidance to accounting personnel at various locations throughout the organization including CA, Nevada and New Jersey."

So again.....unless Mike is using his own money to pay for the above positions........how can TRTC justify paying him 1.4 million a year...IMHO

This is why some use the term "Insider Enrichment"

On the bright side I found the company is advertising for a half dozen positions in San Leandro which could be close to opening ? I have never seen any building permits or retail licensing approved, thus I can only assume San Leandro will work as a not for profit and cost the company millions in expenses till the State of Ca approves their license and then San Leandro will have to approve it......IMHO San Leandro likes not for profit.......and was impressed by Salwa who was to be Ex Director . AJ was to be Chief Scientist and behind the scenes was Salwa's husband , Martin Kaufman. Those three were the key to TRTC's success IMHO and from what I can learn........all have left the organization.....

Enjoy the ride...... 1.74 current price ? thats .11 cents a share pre split IMHO