GlobeStar Therapeutics Corp (GSTC)

[SILVERSURFER4263]

waiting for 0002x0003

http://www.clippercorporatepartners.com/2019/02/vivos-slays-dragon-initially-posted.html

(former company he was the CEO with.)

"Unfortunately, the company's future had been mortgaged through toxic debt. The toxic debt was piled onto the company by former CEO, James Katzaroff, almost exclusively to pay the salaries of his wife and himself, as well as take a bunch of pointless and expensive trips to places like Russia, albeit purportedly for the company's benefit, but to no avail. The Katzaroffs had taken as much as a million dollars out of Vivos over the final few years of Jim's tenure as CEO.

Under Jim Katzaroff, the company made very little progress while having its viability placed into jeopardy, all in the name of a paycheck. Katzaroff could have raised money under more responsible terms, but taking on toxic debt was easier and the simpler route to ensure he and his wife got paid. Toxic borrowing is almost always for the benefit of management, so that they are ensured that their pockets are lined--under the guise of salary and usually for doing nothing--without regard to the retail shareholder.

In short, Katzaroff was in breach of his fiduciary duties to Vivos and $GSTC