Snowfield Development Corp. SWFCF

RE: More good points from the MD&A - NitWIt

[HotSnot]

Are those the numbers your complaining about? 60,000 salary for the director? Diamond companies take years to develop and he is taking just over 1100 a week in salary. That criminal! Call the cops. A director controled company recieves money for rent, secretary fees, telephones, sedar filings etc and you call this bad? Common now...thats the stupidest thing i have ever heard. Thats what it takes to run a business. lol God i that you were trying to make some valid points. How are these things to be paid then? Should the directors pay all the bills out of earnings from trust funds they recieved at birth? Does money grow on trees? Everyone of these mining companies uses private placement money for this stuff. I own a realestate company which does alright for itself. 30 employees. My rent is 6000 per month my phone is 2500 (agents pay the long distance) insurance is 1400, heat/hydro 400. Then there are routine charges for supplies, documents, courriers etc. I realized awhile back that by not creating a seperate entity i was actually losing about 30% more money in taxes. So i created a corporation. I draw a salary from my corporation. I could get more but im trying to save taxes. I am the sole shareholder in my company. Company money is taxed much more affordably in canada. If i wanted to raise money for my firm for expansion i could look for investors and issue shares. If i chose to go that route i would be able to get a signifigant portion of my investment back and be able to keep everything going exactly the same. So i control the company but the company has all my money and is taxed less. Now the company pays my car, permits, gas, phone blah blah blah. The more any institution makes the more it costs to make things work. I see nothing wrong with this approach and im glad to see it has been done. It is to the share holders benefit. The director divided his tax liability of these assets. One is a holding company for the bills, one is his personal and one is for company operations....i dont recall exactly. It all sounds perfectly clear and legit. Wow i thought i was talking to knowledgable people here, but if this is what your whining and complaining about its completely absurd. I thought you were sugjesting the director was frivalously spending corporate funds for his own person gain through his holding companies to legitimise these transactions. What your sugjesting is just stupid if thats your proof. Im sorry to be so blunt but that is just plain flat out wrong. Oh and if this company goes under....shareholders have zero liability...the director will have to face the music though. He cant he held liable for everything but he does not have absolute zero liability as we do. He will be able to keep his personal assets but his holdiing companies would tank aswell if im not mistaken. I just dont see what all this complaining about the sedar filling is all about.