Wolf Energy Services Inc (WOEN)

[Teliz2009]

This is fantastic!! CEO is robbing the shareholders blind. At least his unpaid balance is down to $571,261 as of September 30, 2019.

September 30, 2018 it was $1,181,261 or about the total market cap of the company.

NOTE D - RELATED PARTY TRANSACTIONS

On January 4, 2018, the Company’s board of directors reduced the annual compensation of the Company’s chief executive officer from $305,000 to $210,000, effective as of January 1, 2018. For the three and nine months ended September 30, 2019, the Company incurred salary expenses from the Chief Executive Officer of the Company of $52,500 and $157,500, respectively. During the nine months ended September 30, 2019, a total of $400,000 of salary and accrued salary have been paid. The total unpaid balance as of September 30, 2019 is $571,261 and is included in accrued expenses – related party. In November 2018, the Board of Directors also approved the health insurance benefit for our CEO. For the three and nine months ended September 30, 2018, the Company incurred salary expenses from the Chief Executive Officer of the Company of $52,500 and $157,500, respectively. Of these amounts, $157,500 had been paid for the nine months ended September 30, 2018. The total unpaid balance as of September 30, 2018 is $1,181,261 and is included in accrued expenses – related party.