So, your proposal is to cut Carol's salary then because in 2006 she took shares instead of a salary. So, using your computations Carol made only $150K at 2:1 or $100K at 3:1 ... whereas she normally gets 300K?
The company was -700,000 in 2007
Already in the first 3 months of 2008, the company is looking at 34,000,000 revs... so they can certainly use some of that AS THE COMPANY SAID IT WOULD to buy back shares.
With all that is going on with this company at present, $34M looks to be just the tip of the iceberg. Carol said they would buy back shares, so she must feel they can do that without putting a great dent in revenues. Insiders holding 1.76B shares aren't going to want that cut into half or into thirds when the money is there to buy back.
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