The $14K is for the quarter...not the year. You might also notice he is still owed $159,000...and at the moment the only place that can come from is the penny financiers. So who is he really working for??? ;-)
I would suspect they essentially made their financing support contingent on some salary reduction. Why? Because even by penny stock standards it was high and the note holders have some leverage to see it gets put to better use elsewhere...until the company starts performing a little better...but that is speculation since there is really no way to know.
But Tom will make out fine...he will probably make 2-3x his investment in the convertible notes he bought no matter what the pps is.
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