steve64
Although I'm still optimistic (though less so following QTIG's annual report), some things are actually worse than you expressed.
The $105,000 was actually SunnComm's and Quiet Tiger's combined revenue for 2004, not just Quiet Tiger's. All revenue flows through Quiet Tiger and is then shared out. So SunnComm's revenue for 2004 was about $63,000 and Quiet Tiger's $42,000.
That put the average royalty per CD at about 1 cent. This is very worrysome based on what we have been told, but apparently the reason is that a large number of CDs were given away for free or at low cost for promotional and testing purposes.
Why the hell didn't we just hire Bill Whitmore and the other guy,as opposed the giving away 40% of our future revenues into an old shell?????
Not having invested in SunnComm, this has not really concerned me. But from reading the PRs, Bill Whitmore actually worked for SunnComm and only joined Quiet Tiger when the marketing agreement was signed. He moving to Quiet Tiger was part of that agreement. The other guy, Scott Stoegbauer, joined SunnComm after the marketing agreement came into effect. I am not quiet sure who actually worked for Quiet Tiger when they entered the agreement, but these are the only two employees listed now, apart from Albert Golusin who is their part time chief financial officer.
I understand that SCMI apparently has some skeletons in the closet
Its hard to know how true these rumors are. But I think that is one reason that SunnComm should distribute the dividends as promised. A promise is a promise. Although the 1:1 distribution may have been chosen to compensate SCMI holders for not receiving the dividend, I think it would have been better to distribute the dividend and use a different ratio (so that the net effect is the same) so that no accusation of wrongdoing could be levelled at management.
