THPHF - Thinkpath, Inc. (THPHF)

[gimp_vulture]

EBITDA shenanigans

Why is the EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) so important if everyone sees that it is just due to debt forgiveness? Let's not forget Mr French's employment agreement, it makes everything clear:

EBITDA AS A PERCENTAGE
GROSS REVENUE (US DOLLARS)---------BONUS (US DOLLARS)
-----------------------------------------------------
7%--------------------------------US$200,000.00
8%--------------------------------US$300,000.00
9%--------------------------------US$400,000.00
10%--------------------------------US$500,000.00

So debt forgiveness due to poor operating results and the inability to make payments could net Mr. French a $500,000 bonus.

Amazing. The Laurus boys seem to have been outsmarted.