Equator Beverage Co. (MOJO)

[MattKow]

rainmaker

I know Pete very well. He was not being paid a salary, he was given stock, restricted stock that he couldn't sell at that. He told me in three years he was paid 2000.00 which if you ask me is an insult for a guy who can make your company and if you know Pete he did laugh about it.

He said he couldn't innovate for MOJO because the CEO refused to compensate him directly for his time. Any innovation would take a considerable amount of time away from his business and paying clients. He felt he was put in a situation to fail and decided to resign.

Besides that, he did say his company employees and himself had nothing but problems with the CEO although he didn't go into detail about it.

At the end of the day I'm sure it came down to the fact he wasn't being paid and to ask a guy of this caliber to work for three years and not give him a proper salary you can't expect to succeed. Consider the fact that this guy developed some major brands and his products alone made 1.2 billion last year (this is off his company site) that this news is extremely damaging to all the shareholders losing a key guy like this.

With that information I am no longer a shareholder, and with his track record I feel he's not replaceable.