You seriously have no issue with the exec team taking such huge salaries while the company is haemorrhaging money?
As investors we all put our hard earned dollars into this company, and to see the funds used largely to fund the lifestyles of the directors (regardless of the SP), i feel is a kick in the teeth to those of us who have stuck by the company despite sitting on massive paper losses.
I think it's more than reasonable to expect that management align their remuneration with the financial state of the business THAT THEY ARE RUNNING i.e. if the business cannot afford to pay $500k + salaries, then they need to review and realign to meet expectations and to ensure the longterm financial prosperity of the business. It's called being fiscally responsible. Take the hit now to support the financial health of the business then when the forecasted ($billions?) revenue starts rolling in and the business can actually afford these very rewarding packages then at that point who cares what they pay themselves (within reason).
It's all about timing. If we had significant revenue currently rolling in then no problem, but we don't.
Sorry mate, i cannot follow your blind faith that management has shareholders best interests at the forefront of their minds based on this financial report.
*I hope to be proven wrong in the very near future.
IMO DYOR.
SAS Price at posting:
6.1¢ Sentiment: Hold Disclosure: Held
