RE: Faith in insiderFinancial report 2003 - 2009
Management fees per year:
2009: $ 40,000 (three quarter yet)
2008: $ 60,000 = $ 5000 per month for all directors (Bernard, Reed etc.)
2007: $ 60,000 = $ 5000 per month for all directors (Bernard, Reed etc.)
2006: $ 61,260 = $ 5625 per month for all directors (Bernard, Reed etc.)
2005: $ 75,000 = $ 6250 per month for all directors (Bernard, Reed etc.)
2004: $ 103,500 = $ 8780 per month for all directors (Bernard, Reed etc.)
2003: $ 22,500 = $1875 per month for all directors (Bernard, Reed etc.)
2002: $ 7,500 = $625 per month for all directors (Bernard, Reed etc.)
Fact: Rene Bernard started to develop CDO in 2002. I know that he did not take any salary at all for the first two years.
But also the current salaries are ridiculous, compared to the properties and negotiations Bernards has done in the past years to form a basis of properties for this explorer. Yes, now it is getting time to do something with those properties - but we would not be in such good position with great properties if Bernard would not have had done his work.
And, by the way, those salaries are fuxxing ridiculous - which his, by the way, another intersting fact especially for a shareholder like me: I am running a company with two employees....and I make approx. $Can 16,500 per months - income right into my pocket ! Just to give some idiots here an idea how poor this development to one of the biggest explorer of Canada CDO has been paying managers the last 8 years !
I am sorry for Rene Bernard, that he deals with stockmarkets and idiotic shareholder....I would never ever do such a shjt job!