I would agree with your point of view, Mod, if I saw any indication of cash going into the officer's pockets at this time. (That is why everyone who is serious about investing in any penny stock should read the financials.)
What concerns me, somewhat, is the accrued wages. I would prefer to see the wages paid in stocks, rather than being accrued liabilities. But that is just my personal preference. (I could make a case for both ways of handling wages owed.)
The percentage of debt that is wages owed to the officers is minor portion of the total debt load. When the company becomes profitable, it will be interesting to see what percentage of the profits go to who, and how fast. But our concern, at that point, should be with the stock price. As long as that is healthy, we profit. It really doesn't matter how the debt load is dispatched.
Don't take my word for it, Do your own research! Then you will know it's true!
