Greenday wrote: Urainiman posted that Dev and Ross have a combined salary of $1M. That is not the case, FCU's income statement shows that all of FCU's employees combined earned $724,553 in salaries in 2019, $1,509,717 in directors fees, $17,223 was expensed in share based compensation and there was $235,000 in directors and share based compensation. So FCU's total labour cost for 2019 was $2,486,493.
Run through NXE's numbers for 2019 and it's $5,624,334 in salaries and $10,867,167 in share based payments for a total of $16,491,501.
A difference of $14,000,000.
FCU
| Expenses | | |
| Business development | 353,752 | 528,242 |
| Consulting and directors fees | 1,509,717 | 1,530,370 |
| Depreciation | 189,913 | 100,331 |
| Office and administration | 643,050 | 822,205 |
| Professional fees | 355,701 | 279,445 |
| Public relations and communications | 623,873 | 713,374 |
| Share-based compensation expense | 17,223 | 297,263 |
| Trade shows and conferences | 308,803 | 387,366 |
| Wages and benefits | 724,553 | 807,422 |
| | 4,726,585 | 5,466,018 |
NXE
Note December 31, 2019 December 31, 2018 Salaries, benefits and directors’ fees 11 $ 5,624,334 $ 5,897,494 Office and administrative 1,996,123 1,855,177 Professional fees 3,572,164 2,003,931 Travel 1,142,668 920,834 Depreciation 8 2,383,177 1,533,634 Impairment of exploration and evaluation assets 5 14,354 - Share-based payments 10, 11 10,867,167 13,736,299 Finance income (1,815,590) (2,486,565) Rental Income (30,305) - Mark to market gain on convertible debentures 9 (21,821,831) (32,578,261) Interest expense 9 11,822,910 11,954,146 Interest on lease liabilities 6 206,986 - Foreign exchange loss (gain) 1,653,616 (4,025,062) Loss on disposal of equipment - 6,065 Loss (profit) from operations $ 15,615,773 $ (1,182,308)
Sorry about the formatting,