Needless to say, I have never seen a legitimate junior exploration company that paid its management even 1/2 of what Guyer and Rice are making in salary. Most legitimate juniors pay management very little, or even nothing, in cash salary. Instead, the receive incentive stock options. If the stock goes up, they and the shareholders are rewarded while the majority of the Company's precious cash goes into exploration and not into insider's pockets.
This kind of salary is absolutely outrageous, especially since it is coming from the sale of heavily discounted toxic death spiral convertibles. It certainly makes CGFI look like an insider enrichment scheme rather than a legitimate company. Today's S-8 filings cement that impression. Of course, no legitimate company EVER sells any toxic death spirals at any time.
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