This is the one that sticks in my claw:
(4) a requirement to reduce Samson USA’s general and administrative expenses from $6 million to $3 million per year;
As a long term SSN holder (now pretty much watching from the sidelines) I had posted many times that in my opinion the G and A expenses were completely off the scale when compared to the Company's total revenue. Up around 50% in some instances. I held the view then that the Company was little more than a cash cow for the BoD so it will be interesting to see how many of them stick around now that they are looking down the barrel of a 50% pay cut.
I wonder where the Company, and the sp, would be now if the Directors took this kind of pay cut a few years ago.
This is the one that sticks in my claw: (4) a requirement to...
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