Not only directors fees. If u see it says for engineering services as well. This is from the supplementary prospectus:
'Adroit currently receives monthly fees of approximately US$50,500 for provision of software engineering services to Syntonic. The monthly fees are based on Adroit’s cost of providing resources (based on an hourly rate, with minimal or no mark-up) and materials (at cost) to Syntonic for that month. The fees are renegotiated annually by mutual agreement of the parties. Syntonic considers that the services provided by Adroit are provided at less than market rates and Mr Agarwal receives minimal or no financial benefit from the Adroit Services Agreement.'
In fact this is a very good deal for Syntonic and by extension us shareholders. It was fully disclosed in the supplementary prospectus.
SYT Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
