RE: assorted answers from Jeff to questions i have Great post Rypo. It is true that US GAAP reporting makes a misleading example of compensation. Further misleading is the policy on info circulars as at least with US GAAP the non-cash stock option expenses are credit back in the financials under contributed surplus on the shareholder equity account. But the info circ only shows the expense not the credit. So in reality Jeff only received $396,000 cash rather than $3.1 Million. Further, Boralex has 67 other people at head office while WND has a TOTAL of 8 people.
AQN was a $10 per share IPO while WND was a 35 cent IPO. WND grew from one million in assets to $400 Million in 10 years which is a Compounded Annual growth rate of 75%. $396,000 is a cheap cash salary to accomplish this.