No AUDITED financials are a must! What company did you ever see go file SEC filings with unaudited guesses at financials?
Show a profit? LMAO - How are they going to do that when the last 8K 2 years ago said BIG PAY INCREASES for OFFICERS
Typically in the pink world that just takes the limited finanacial resources tehse comapnies have and transfers taht to the officers pockets!
(e) On September 10, 2008, the Board of Directors of American Millennium Corporation, Inc. (the “Company”) approved, effective as of August 1, 2008, a 7% increase to the base compensation of each of the officers of the Company: Stephen F. Watwood, Bruce R. Bacon and David E. Welch. As a result, the base compensation for Mr. Watwood, Mr. Bacon and Mr. Welch is currently $106,733, $112,350 and approximately $129,000, respectively. In addition, in recognition for these officers’ efforts in achieving profitability for the Company, the Board of Directors awarded each of Messrs. Watwood, Bacon and Welch a one-time $10,000 bonus, payable on or before October 14, 2008.
The Company expects to continue to make payments to officers for unpaid compensation for prior years. The total amount owed (and the expected monthly payment) are: Mr. Watwood - $84,700 ($1380 per month); Mr. Bacon - $36,800 ($778 per month); and Mr. Welch - $34,100 ($654 per month).
For the fiscal year ending July 31, 2009, the Board of Directors approved a year-end bonus for Messrs. Watwood, Bacon and Welch. Each officer shall receive a bonus of 3 1/3% of EBITDA if EBITDA equals or exceeds 8% of revenues and 4% of EBITDA if EBITDA equals or exceeds 10% of revenues. Payments of up to 75% of the estimated earned bonus may be paid quarterly if determined by Bruce R. Bacon, as the principal executive officer of the Company, to be appropriate, with a final payment due promptly after the end of the fiscal year.
Before you criticize a man, walk a mile in his shoes. That way, if he gets angry, he's a mile away and barefoot.
