from the australian, page-4

Blakes. Yes they have taken a voluntary pay cut- to zero.The precise details were not elaborated, but I believe that the details will be announced shortly.If this is not the kind of committment that shareholders are looking for then they are pretty hard to please.As for the execs of VCR, the general consensus of SHs seemed to be if you pay peanuts you get monkeys.SHs at the meeting seemed to indicate support for exec salaries,(I was a bit surprised about that), especially when a few home truths about them were explained, as I said in previous post.The main beef was about the need for capital now when some thought the company could get through without it. But again there was more to this than a superficial look would indicate, I for one was not happy with the need for more money, but I left with the feeling that it was a necessary evil, as I think did the majority of people.
Once BTT is obtained the company will quickly be cash flow positive, and probably handsomely so, and SHs will not have to stump up again.And BTT approval may just be a little sooner than than they are disclosing.
My opinion, for what its worth, is that the early hype on VCR at the time of Spooner, with some outrageous claims of when this company would be to market and the general hype at the time,has been difficult for the company to live up in reality. The hard yards were always going to come after, and he wasn't the one that had to do them. Since then the company has been on the back foot, and the present management has inherited a lot of the ill feeling from those days. The hype got most of us in back then, but the claims were just not possible.Now we ARE at reality stage, and now that the company has just about made it,and done the hard yards,warts and all, the sentiment factor has been turned to the opposite end, and has become unjustifiably unable to be turned in any way positive.Only negatives are ever seen and reported. The fact is its plain stupid, and its a good example of how wrong sentiment can be at times.viz 12 or so months ago