No evidence Gildea and Allen cut salary
The reason it is valuable to know what Gildea paid for TerraSphere is because it is another example of his decisions that are ultimately harmful to shareholders.
Yet no matter how many of these decisions are made, via various financial machinations that continue to hurt shareholders, he and Allen are able to rake in large salaries, and recoup any personal investments in COIN stock.
It doesn't matter how much SG&A there was in TerraSphere -- though it hasn't been much since they closed it down nearly a year ago -- because the company has stated in the 10-Q that they'll be out of cash by the end of Q4.
The Gonzales plant has quarters where it is, as you put it, "self-sustaining", but whereas it used to be cash flow positive three quarters out of the year, that has now dropped to two. Per the 10-Q, Gonzales has had an operating profit of $189K in the first nine months of the year, but since the Q4 operating loss will likely be larger than the (IIRC) $62K loss in Q3, the final FY12 cash flow out of Gonzales will probably be closer to $100K.
That's a little more than one quarter of Gildea's and Allen's combined annual salaries. And while they have cut some overhead through the layoffs of other corporate staff, there is no evidence that they have cut their own salaries, or that of the Board of Directors.
IMO, Gildea will continue to use convertible debt to keep the company running while he continues to recover his investment losses.
That will mean further dilution for anyone who continues to hold, though some will make some trading profits if they're lucky.
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