"How does a company report provision for accrued annual and long service leave obligations in aggregate for all employees of around $300,000 at June 2019 and around $200,000 at June 2020, while having paid its Executive Chairman and Managing Director, founder and substantial shareholder a cashout payment of accrued leave of around $400,000 during FY2020?
Red flag?"
Great question @cad1llac It should have been a Red Flag to the other members of the Board, but they seemingly went along/signed off on this extraordinary pay-out to Mr Fortunatow. As previously stated, the positions of some or all of the current Board members must be brought into question considering past and even recent Board actions and inactions. The size and revenue of the company doesn't justify the number of Board members, nor a number of the salaries of highly paid executive staff. Still much more to be done to right the Spacetalk Ltd ship.
SPA Price at posting:
3.6¢ Sentiment: Hold Disclosure: Held
It should have been a Red Flag to the other members of the Board, but they seemingly went along/signed off on this extraordinary pay-out to Mr Fortunatow. As previously stated, the positions of some or all of the current Board members must be brought into question considering past and even recent Board actions and inactions. The size and revenue of the company doesn't justify the number of Board members, nor a number of the salaries of highly paid executive staff. Still much more to be done to right the Spacetalk Ltd ship.
