“he pays himself nothing and gets note from company. ”
kim has paid himself a lot over the years but has opted to defer his salary the last few years...he hasn’t forgiven the debt...he intends to still get paid, with interest, eventually...
and the only reason that is necessary is because of incompetence and mismanagement...
so no, i’m not exactly thrilled with the whole situation..i personally would rather see legit financing than this penny ante bs loans he’s doing...
“He sells stock for free that he gave himself for starting the company with his own money before going public.”
no, he sells his free shares that he granted himself after the company went public...he used a little of his money and money from relatives and friends...they all made out quite well after kblb went public...so did kim...kim got his money back when everyone else did...and it wasn’t anywhere close to $500k as some would lead you to believe...
but even if it was..so what?...he gave himself 332 mil shares...multiply that by a nickel that is about the average of the pps over the years...kim stopped stating in the filings how much stock he was selling after i started questioning the amount...he now only once a year will indicate what percentage of stock he owns...and i’m not sure how accurate he’s reakly being...
but at last count, years ago, he was down around one hundred million shares...
“With the money he gets from selling his stock he loans it to KBLB and gets a note for .03% wow! ”
it’s free shares he gave to himself!...why should he get any interest at all?...he created the situation that calls for the loans!...lol
“He has no collateral, his notes are worth nothing if the company fails yet he is ripping the company off. ”
don’t kid yourself...kim would never loan money that he couldn’t get back one way or another....even if it meant shareholders get nothing...
