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Re: Johnny4profits post# 13878

Monday, 08/01/2011 12:18:10 AM

Monday, August 01, 2011 12:18:10 AM

Post# of 20669
The last I heard, Gary and Sharons combined salaries are $584K a year. Gary said in an SEC filing that the "majority shareholders" had voted to pay them that salary.
That's $48666.67 a month. There are alot of other benefits too. Health insurance was mentioned as was a company car and a pretty nice severance package all approved by the "majority shareholders"
which can also be thanked for the A/S increase from 900M to 5B.

There have been some SEC filings before the Bertholds were "hired" where it was in the financials that 14K was owed for "witholding taxes" but in the same filing there were no employees.

How can INOL owe the IRS 14K in "witholding taxes" when there are "no employees" reported in the same filing?

Is that like doing a $60K fitup on "Suite 135" when "suite 135" turns out to be a PO Box at mailboxes plus?