My percentage has never been clear-cut.
Before I stepped foot on Thai soil in a working capacity you offered me 5% ownership after one year.
Then it morphed into 2.5 after 2 year. That later morphed into me being able to buy shares at a discounted rate like you did at Gannet.
Fast forward a few years, prior to my resignation you offered me 25% profit sharing which never transpired, which then changed to 20% ownership. Then that changed to 15%, which now is apparently changing to 10. It appears to change with your mood.
Fast forward to today. I don’t even have the original 5% which was offered as an incentive to move over from the States. I don’t feel you have been forthright with my shares.
Of course there would be a time clause in the event of a share transfer. That is easily addressed by terms and conditions accompanying a transfer with the lawyer. This should not be a deterrent from the transfer taking place.
Profit sharing has been sporadic at best, basically doled out if and when you feel like it in arbitrary amounts. It wasn’t until this past year that we were finally able to access the Paypal account. You had reiterated to Andreas and I multiple times that you had forwarded every single Paypal transaction to us, and we should be able to track the money. When we got Paypal access it was obvious that was not the case.
In terms of profit, you take 460,000 baht right off the top every month. 230,000 for answering emails which is a 25,000-30,000 baht job, and 230,000 for your mother’s loan. There is no documentation of this loan. In addition the way that you have extracted the money in the past is leading to a massive tax liability which will further drive down profit.
Have there been problems at this camp? Yes. That is inherent in business especially in developing countries. To expect TMT to have been a problem-free utopia is unreasonable.
Let’s look at the facts. You live in the States. We have record revenue. Multiple offers have been made on the camp for record money, which means astute businessmen view it as desirable. Most owners would be running to give me shares to ensure the continuity of the business.