While I certainly don't want to excuse DD from his selective memory, hence gross misrepresentations, consistently I might add, it's of equal discomfort that I have not the slightest worry about whether Mr. Gordon has anything left over from his $2,500 per month car allowance, that is if he even has one.
What truly makes me so uncomfortable is the blithe way so many of the company's shareholders breeze by Mr. Gordon's incredibly dismal track record of losing more than $6,000,000 dollars last year alone on just $900,000 of gross revenues and then rewarding himself with;
1. $178,000 in salary plus whatever in expenses and allowances
2. 5,000,000 share grab, worth no less than $2,000,000 as of this past few weeks prices, and
3. 6,666,666 more shares at $0.15 each as an option package as of February 22, conveniently 3 days before a supposed $100,000,000 projected revenue announcement.
Whether he sold those shares into the news, whether he was able to or not is irrelevant.
The fact remains that he has compensated himself more than $4,000,000 for his work? in 1998. That's equivalent to 500% of gross revenues for the year.
Now as to him repaying himself for shares or loans that he put up for collateral in order to save the company, and please remember... save it from damage that he has presided over, then why aren't these shares being explained as such repayment in the 10K? There's no reference to repayment of a loan, it's shown as compensation. It's a simple bookkeeping transaction. Nothing complicated, that is unless you want to keep everyone off balance so that no one knows who's on first. And that's what it looks like here.
This is the kind of reckless and egregious behavior that scares the living $hit out of legitimate investors and investment bankers. If it's the simple quid-pro-quo of the company repaying a loan made either to it directly or for payments made on its behalf, then so note it in the bloody filing. Anything else is doublespeak, obviously in the dear hopes that all the watching shareholders are just too stupid to understand.
The more that I read this thread, the more convinced I become that Mr. Gordon knows his shareholders better than they do themselves.
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