"Nothing is certain except death and taxes,” Franklin saidAnd for Lotus shareholders, perhaps you could add consulting fees.
During the twelve months ended August 31, 2023, the Company incurred management consulting fees of $170,000 (2022 – $146,000), included in consulting fees for the period, to a private company controlled by the Company’s President and CEO. As at August 31, 2023, $292,700 (August 31, 2022 - $143,468) was payable to this private company for the unpaid portion of these fees and miscellaneous expense reimbursements. During the twelve months ended Aug 31, 2023, the Company incurred salaries allocated to production costs of $220,000 (2022 - $264,636), to the Company’s COO. As at August 31, 2023, $138,444 (August 31, 2022 - $101,000) was payable for the unpaid portion.