So a Company secretary + a CFO with a modest office and a P/T...

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PigsMightFly

7,705 Posts.

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11/09/23

17:36

Post #: 69815276
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Originally posted by Crystaltrade: ↑

Who's doing the misleading Grolph?

"And the worst of all, misleading investors continually...

No one holding shares over the last 5 years would be in the black, in fact a long, long way from it. Yet even being conservative the top directors would have walked away with 10 million each.

Lifestyle companies are the scourge of the ASX and are the new home for white collar criminals."
grolph
Date: 08/09/23
Time: 20:08:19
Post #: 69791705

What about this bit, that without fail, yr after yr, you conveniently forgot about?

"(b) This officer is provided by Princebrook Pty Ltd (a company in which Mr Gregory Solomon and Mr Douglas Solomon have an interest) under the Management Services Agreement with the Company. The Management Services Agreement may be terminated by giving not less than three months’ written notice. During the year the Company was charged $300,000 (2022: $300,000) by Princebrook Pty Ltd for management services."

"Aaron P Gates Company Secretary / Chief Financial Officer (resigned January 2023)
Jamie Scoringe Company Secretary / Chief Financial Officer (appointed 9 January 2023)"

"Chief Financial Officer Salary in Australia (September, 2023)
SEEK
https://www.seek.com.au › career-advice › role › salary

The average salary of a Chief Financial Officer in Australia is between $210000 and $230000."

"The average company secretary salary in Australia is $125,000 per year or $64.10 per hour. Entry-level positions start at $102,362 per year, while most experienced workers make up to $171,823 per year.
Company Secretary average salary in Australia, 2023 - Talent.com"

So a Company secretary + a CFO with a modest office and a P/T secretary would come to over $400 000 a yr yet here you are, again, lying to the forum that somehow this cost saving measure is proof of malfeasance and criminality by the Solomons.

Douglas Solomon has reduced costs by downgrading to a non-executive director for the last couple of yrs and Gregory Solomon is now interim CEO as well as Executive chairman without any increase in salary.

Would you like to explain how this information, added to the fact that both brothers have always taken up their full personal CR entitlements, tracks with your accusation that this is somehow a bogus "lifestyle company" and I am sure the forum would be very interested in how you calculated that they have both somehow over the past 5 years "Yet even being conservative the top directors would have walked away with 10 million each."?

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So a Company secretary + a CFO with a modest office and a P/T secretary would come to over $400 000 a yr yet here you are, again, lying to the forum that somehow this cost saving measure is proof of malfeasance and criminality by the Solomons.

You have absolutely zero grasp of business reality. No private company with $4M annual revenue has a CFO, company secretary or six figure legal/consulting fees.

My nephew runs a residential construction business with >$20M revenue from his home. He is a sole trader with no permanent employees (only subcontractors).

Last edited by PigsMightFly: 11/09/23

EDE Price at posting: 0.3¢ Sentiment: Sell Disclosure: Not Held
1 Upvote

0 Great analysis

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