RE: RE: RE: RE: A Sailor's ViewI’ve stayed away from this stock for long months, not looking at the SP and this bullboard, even if I still own +500k shares... I’ve been waiting for an email from my brokerage firm alert system confirming that the company has issued a PR but as you all know, I still haven’t received something since last June... 4 LONG MONTHS WITHOUT A PR, SO RIDICULOUS!!! During that time gold has flirted with $1400 and we’re still barely trading at 0.10$... Even with a partnership with one of Quebec / Canada best in his class, that says it all.... NO CREDIBILITY...
The past 5 years are starting to look more like a comedy show than an investment story... Mr. Harvard and Jack are « managing » this company for so many years now and I was looking for a few « realizations » (could someone list me some???) to explain all the checks those two are cashing... They are way overpaid for the “added value” they brought to the company and SP over the past years... They don’t look like their working for the shareholders benefits but more for their own pockets....
Billings: Management fees 99k in 2009 for part time job..., and will be higher in 2010 looking at the Q3 financials!!!
Levesque: Professional fees 120k, car rental 12k, equipment rental 48k, office rental 96K, for a 2009 TOTAL of 276K!!!! Will it be more in 2010???? This guy is around OX for so many years and has done NOTHING during this timeframe to bring this company to another level... Think about it, 20 years and Phase II is still not over... But year over year, he’s cashing without shame company and shareholders money that could be used more efficiently (REAL marketing, local payroll, resource update, etc., the list is sooooooo long...). Honestly, and I will stay polite, I don’t understand what were thinking those who vote him back at the last AGM... Because he holds on millions of shares??? Geezzzz....
So what do we do now??? Kick them out??? Even if we small shareholders are consolidating our votes, would we have enough to make some changes??? Neither not enough time to bring a strong proposal by December... If someone is going to the AGM (I won’t lose that precious time...) and wants to shake things, you have my votes!! But face it, we’re gone be stuck with the same poorly management and BOD for the next year and it freaks me out a lot... Ouchhhhh.... Frustrating after all those years without improvment, probably time to move on....