Gatekeeper Systems Inc V.GSI

Bonus paid out to DD in Q1

[kidl2]

It's pretty straight forward. DD elected to have the accrued bonus paid out to him in Q1. This will NOT affect Q1 operating results (P&L). It’s purely a balance sheet entry reducing assets (cash) while at the same time reducing liabilities (Bonus payable).
 
MD&A page 23 … Subsequent Events
Subsequent to the year ended August 31, 2023, the following transactions took place:
a) an aggregate of 165,000 stock options were exercised between $0.12 to $0.195, generating gross proceeds of $23,888.
b) a bonus in the amount of $1,120,000, which was accrued during the year ended August 31, 2023, was paid out to the Chief Executive Officer, and the shareholder loan in the amount of $1,120,000 was settled and reduced to $Nil

[KeepYoKidsSafe]

The point I was attempting to make earlier except explained way better. This isn't a "hit" to operations but rather a positive IMO. Company is in strong enough place that it can get that liability off the books and cash coming in from operations that will put it firmly in the rear view.

[kidl2]

Your point is well taken. DD wouldn’t have taken this money out of GSI’s bank account unless he was certain that it wouldn’t impact GSI’s  financial health. If anything, this and paying off the LOC are very positive indicators for Q1 and all of FY 2024. DD runs this company as if it was his private company which is very unusual for public companies most of which  worry more about short