What I mean by syphon.... It's the hose that constantly takes some out of the tank ... the problem with PC being the multiple syphons plugged in. The 19,500/ month from PC was but one of the syphon tubes...
The directors should have been more proactive. When I spoke to DV he mentioned that they were always given a global figure.... But that seams like a laime excuse to me. DV mentioned that PO was the recipient of close to $500 K in the last year from the stream of companies and benefits..... I hardly think in this time of hardship in the venture exchange several 5 cent companies can afford this kind of feeding frenzy... What happened to the priority funds, were they slowly syphon off with no benefit to the Placees..... I sure have nothing to show for the cash I sent in!
PO has been the big cheese for so long he has become comfortable in his ways, and likely intimidated all who came in to try to advance the projects, only to become disillusioned by the Cheese.
It is too bad that nobody would go public and spill the beans to investors that the administration fees were so disproportionate to the exploration activity.
As I mentioned, all that have come and gone have a story to tell.... |Hopefully some day we investors will get to know some of those stories.
As Roger has pointed out PO has been in this position of trust for a very long time, firmly entrenched like a dictator.... He knows how to deflect any attempt to dethrone him... as we have just witnessed.... An orchestrated event aided and abetted by the directors.
JMHO