Post by bigboy999on May 29, 2023 7:07pm
570 Views
Post# 35469395
Management Compensation
Management CompensationFrom the CEDAR 2023 first quarter financial statement for Stinger Resources. These are the same senior officers connected to American Creek Resources and Affinity Metals Corp. I'm in no position to make a judgement as to the appropriateness of these figures because I don't know what it takes to run these companies and I don't know if this is to maybe catch up for some lean years, but it does give one pause as these figures only reflect the compensation relating to STNG Resources. Any clarification would be welcome.
11 Related party transactions The Company has identified its directors and certain senior officers as its key management personnel. During period ended March 31, 2023, the Company incurred the following related party transactions: a) Incurred management fees in the amount of $61,800 (2022 - $45,000) to companies controlled by the Company’s Chief Executive Officer. b) Incurred management fees in the amount of $46,350 (2022 - $33,750) to companies controlled by the Company’s Chief Financial Officer. For the period ended March 31, 2022, the total remuneration of key management personnel was $108,150 (2022 - $78,750) of management fees. The Company made $100,000 advance to the Chief Executive Officer and $100,000 to Chief Financial Officer for future management fees. A retainer balance in the amount of $Nil (2022 - $1,100,000) was paid to a company controlled by a director of the Company.