annual report to shareholders ..., page-5

Any increase should be tied to performance from here on in, and not retrospectively over the past 6 months or two years. I am always suspicious of directors giving themselves big salary increases when their company is still in its infancy and not yet producing anything. All too often one sees company directors and executives using the company they have been instrumental in setting up to richly reward themselves, not on the basis of their share holdings, but merely on the basis of their position. At this stage JMS finances are needed to explore and acquire, not to line pockets.