Hi all,
Heard from above (the supreme being) that BFC Chair and fellow Director entry price into BFC is an average of at or below 3 cents.
At today's 8 cents they are doing well. Why do they care about our share price they can't lose!!
Assumption to be made is that BFC survives and all shareholders including founding shareholders at 35 or 45 cents get their $$ back. They put in real $$.
Things get better thought for Sexton and Gerlach it looks like they draw,Year 6 of current Board.
- $$ ex BPAM - refer post ex openyoureyes
- Recently Board renewed BPAM agreement for a further 5 years.Annual BPAM cost (source Annual Reports/Press) to BFC looks to be,FY2016 - $1,595,980FY2017 - $2,380,498FY2018 - $2,387,799FY2019 - $2,382,705FY2020 - $2,400,000FY2021 - $2,130,000 estimateTotal - $13,276,982Average annual payment = $2,212830.Latest Annual Report shows CEO ($393,868) & CF0 ($333,844) accounted for $727,712 - approx 33% of BPAM $. Apply as constant $$ over all years then GAP is $1485118.
- Directors fees
Year 6 of losses. Guess at FY20/21 is loss = $8-10m and COVID is back in the game. Another excuse for Sexton/Gerlack and Board.
Time for change. Use your vote to bring about change.
Change and my prayers will be answered.
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