CGB (ASX) Ann: Company Update

Originally posted by Christopher67: ↑

Well Sholom has claimed to have reduced his salary to 50% effective 4th April 2023, for the duration of the suspension.

Now its delisted, does he still take only 50% or is he back to full salary?

https://www.marketindex.com.au/asx/cgb/announcements/company-update-and-request-for-extension-of-suspension-6A1143939
There are no websites for any Grass Roots nor Fuss Pot. No warehousing costs, no marketing costs.
Besides the head office rental, there should be little in the way of expenses.

The last quarterly was dated 31st December 2022.

It should be very reasonable to assume that of the $8,373,000 reported at that time, there should have only been deductions of $156,000 for Sholoms 2023 salary, and then a further $91,000 for his 7 months of 2024.

Leaving $8,126,000.

The office space they rent, has suites going from $3,600 a month. For the prior 19 months, this would total $68,400.

The other 2 directors would have taken 126,667 in fees.

Then of course there are legal fees to consider.

So there should be somewhere between 0 and 7,931,600 left in the bank.

I would hope that it is far closer to the 8million mark than not.

Especially considering the interest they should be earning on that money, a 5% return on 8,000,000 would net 400k a year. Enough to cover the salaries completely.

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"Especially considering the interest they should be earning on that money, a 5% return on 8,000,000 would net 400k a year. Enough to cover the salaries completely."

I think the most interest they ever reported was just short of $200k, though that would have been around the time when interest rates were much lower than they are now.
So yeah, that's a very good point mate.

Imo, there isn't anything in his way to double his salary back up again, and then some extra to make up for his bs 'sacrifice'. The way he treated 'our' cash insofaras his mummy was concerned in her 'resignation' doesn't give us any reason to figure his intentions are anywhere near honourable and unselfish.