$1million at a time Looks like LSG is short of finances. And the Sprott deal for $50million of April 12 seems held up in limbo, possibly because of problems with LSG's performance.
What about saving cash by whittling down expenditures that are not producing?
One possibility would be to ask the CEO to show his confidence in the company be giving up the cash portion of his salary. In 2009 he received compensation of $2million(with over $1miilion of it in cash), in 2010 the compensation was $3.9million (with over $1million in cash) and in 2011 compensation was $2.2million (with again over $1million in cash).
So if the cash portion of 2011 compensation was returned to LSG we would already have 2% of the $50 million goal. If the cash portion for 2011 was combined with that of 2010 and 2012 LSG would have recovered cash equal to 6% of the $50 milllion goal. Not a bad start. Returning even a part of the cash compensation would certainly show confidence of the CEO in the future of LSG.
A nice thought. What has more chance of happening--the CEO's return of the cash portion of his compensation or of the Sprott financing deal going through as announced on April 12.??
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