During the year ended by April 30, Mr. Lafleur working as CEO of Fancamp got paid $50,000 whileas Mr. Smith got paid $342,662 including his expenses. Does it make sense???
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Transactions for the years ended April 30:
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2014
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2013
|
| |
|
|
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Professional geological fees paid or payable to P.H. Smith
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102,000
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144,202
|
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Rent paid or payable, to P.H. Smith
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24,000
|
21,996
|
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Reimbursement of acquisition, exploration and office expenses paid or payable to P.H. Smith
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216,662
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186,312
|
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Total ----->
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342,662
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352,510
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Professional management fees paid to J. Lafleur
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50,000
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It appears Fancamp is eating up the costs for Magpie Inc. Why not shared with Sheridan? and why do we need to support its subsidiary through cheap financing???? This cost us nearly 16 million shares at $0.05.
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Balance with related parties as of April 30
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2014
|
2013
|
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Advances to The Magpie Mines Inc.
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827,602
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458,102
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