Replies to post #47409 on Life Clips Inc (fka LCLP)

[Shapingthepresent]

That was ca- ca......if they have a 50 m line of credit ,why do they say " expect 4th q revenue decline due to lack of capital for expansion" ....did they just forget about that?

[x-ray-eyes]

Expenses increased, including Payroll. Tell Robert that when a company hits rough patches and capital is tight, leaders cut their salaries to reflect the downturn.

There is no way he should be drawing 300K and his CFO sidekick drawing 150K at this time, especially in a downturn. They have millions of shares to boot and can cash in bigly if they make the company successful, which every shareholder would agree is warranted. However, high salaries at this time, when the company is in the initial growth stages and struggling for capital to grow, gives the appearance of not only greed, but a major misunderstanding of how to allocate capital.

imo

[x-ray-eyes]

On the flip side, Praveen is a genius and the only reason I remain a shareholder.