![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Friday, January 13, 2023 3:24:41 PM
The next question is about the payment of salary and stocks. Will HN consider taking his salary and bonus in all-cash, then purchase Elite share on the open market? This is funny. The first part is valid, the second one is funny. I used to get 100% of my compensation in stocks, which meant at the end of the year, I had to pay 50% of my salary, equivalent to 50% of my salary to work at Elite.
A while back, the board changed that to half and half, so now I just work for free. They -- half goes to the government, and half is issued in a piece of paper that Marc now and all the starter used to store somewhere. I hope and I would love to see the Board pay me 100% in cash next year.
Now, the reason I've never pushed for that, is because we need the money, even now when we're profitable at the end of the day, you saw Marc's numbers, we make a million dollars. That's not a heck of a lot of money for R&D, and that's why we're partnering with Mikah and doing other things in order to increase that number.
The cash available from operations has increased since then and doubled to about $6.5 M. While not getting the credit due, until that time Nasrat was freeing up cash to help keep the lights on. Had he not done that his shares would be worthless, as would ours. The company would have been BK'd.
As to the "others", only bonuses are paid in shares and that is as it should be. For all too many companies the executives have little skin in the game. The problem for Elite shareholders is that we have "scar" tissue from the dilution that was the only manner of access to investment capital through the LPC agreements. We felt it was a zero sum game and that is a small-minded thought process. What Elite did was a necessary evil without which we are not having this discussion. In truth, investments in product development have been and will be the avenue to profit and growth. How the company is valued will be based on its worth, not its O/S count.
Recent ELTP News
- Form 8-K - Current report • Edgar (US Regulatory) • 06/05/2024 08:07:15 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/20/2024 08:30:31 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/14/2024 09:55:26 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/29/2023 07:21:28 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/26/2023 09:20:29 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/12/2023 09:20:20 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/28/2023 12:05:38 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/27/2023 11:58:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/27/2023 11:50:54 PM
- Epazz, Inc. (OTC Pink: EPAZ) US Navy Collaboration with ZenaDrone • InvestorsHub NewsWire • 11/16/2023 12:32:07 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/25/2023 08:15:15 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/07/2023 08:05:25 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/14/2023 09:30:05 PM
- Form 10-K/A - Annual report [Section 13 and 15(d), not S-K Item 405]: [Amend] • Edgar (US Regulatory) • 07/31/2023 08:20:27 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/17/2023 08:15:16 PM
FEATURED Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM