Replies to post #56455 on East Coast Diversified Corp (fka ECDC)

[randymarsh]

Compensation is compensation. It makes no difference whether his salary is in cash form or stock form. When kay pays himself a $600,000 bonus in cash, he issues stock to pay for it which makes your shares worth less. If he pays himself $600,000 in stock, he issues shares, making your investment worth less.

If you are angry about your investment being devalued, be angry at Kay for directly devaluing the company in order to pay himself six figures.

Here are some of your more hilarious interpretations of the facts...
- FACT:Kay pleaded guilty to felony possession of fraudulently obtained securities.
Your version:He was never convicted

- FACT:Kay collects a six figure salary.
Your version: Since some of his salary is in the form of shares, it's ok for him to make a ridiculous salary to run a company that loses millions each year.

- FACT: The company has lost $20 million, most of which is attributed to paying salaries. Company has a tiny fraction of that in assets, so banks will not offer financing.
Your version: Banks won't offer financing because Kay is black, and he needs at least $500 million to build a profitable tech company.

[RJ5]

Perhaps u can't correctly read the statement. I suggest u read it more closely. U are the one posting misinformation.
Where does it say payment was in stock??
Where does it say stock was not sold??