Tuesday, December 17, 2013 4:48:31 PM
The terms of the compensation to Fred Shefte and I are disclosed in multiple filings. We each are "accruing" salaries at the rate of $90,000 per year (was originally $180,000 per year). We are not drawing more than a fraction of this amount each quarter, with actual "draws" coming in at about $25,000 per year for each of us (and thus adding to our 'deferred' salary balances by the difference). Our compensation is not paid in common stock shares, and we have NEVER taken shares for any form of salary or loan obligations owed to us.
Thanks ERIC
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