TAP, I see you were paid 1,000,000 shares of TIPS to hawk it to us here. As you stated, TIPS was worth $5 at the time, and even though under your tutelage it has dropped precipitously, the fact remains that it WAS $5 at the time you received your taxable compensation. Which brings me to the question:
Since you have $5,000,000 in self-employment earnings from this one client, and even under the best of circumstances you would owe in the neighborhood $2,000,000 to $2,500,000 in CASH payments for your Federal and State income taxes, WHERE will you get that kind of money?
I'm not meaning to pry into your personal finances by any means, so let me make this clearer. Shareholders would expect you to have to come up with $2M+ in cash relatively quickly. Shareholders would be wise to think this out and wonder if you will be DUMPING SHARES on the market.
If you were to start selling your 1,000,000 TIPS shares the price would likely drop to $0.02 a share under such pressure. And that would still leave you far short of your tax obligations, so we figure you'd start DUMPING TNRG next, and so on.
As a shareholder I am very concerned about the SELLING/DUMPING of shares that is coming.
IN THAT REGARD, please tell us what SALES you have made during the past 60 days of your various promotion fee shares.
IN THAT REGARD please tell us how you will be satisfying you multi-million dollar income tax bill, when you apparently have taxable self-employment income in the millions of dollars and you have stocks worth far less than that. Can we be assured that somehow you wont be dumping everything you won to meet your tax liabilities?
Thank you, Colin |
