Just read the latest PRT MD&A. Same old stuff. Players bouncing from one losing $$$ tech to another ... Philip jumps to PRT from Xtract1/Patriot1 and now looks like Zara is back from First Responder.
Sure Xtract1's is hurting... but PRT is more likely on its last leg. Especially with these 3 “money makers” who are are owed almost 3/4 this latest investment.
From MD&A: As at February 28, 2023, $891,929 (November 30, 2022 - $705,672) was due to directors and officers of the Company:
Carl Cagliarini: $311,241
Dana Wheeler: $385,982
Phil Lancaster: $118,125
Total Due: $815,348
Let alone the other management and consulting fees they have racked up in last 3 years.
From MD&A: During the periods ended February 28, 2023 and 2022 and 2021, the Company entered into the following transactions with related parties:
Management fees consisted of the following:
Carl Cagliarini:
$66,830 from Feb 2022-Feb 2023
Consulting fees consisted of the following:
Phil Lancaster:
$37,500 from Feb 2022-Feb 2023
$62,500 from Feb 2021-Feb 2022
$62,500 from Feb 2020-Feb 2021
When will they all come to collect?