Monday, April 18, 2005

CalbaTech, Inc.

Capital Raised: $ 3.75 million
Capital Burned: $ 4.41 million
Previous Executive Compensation: $ 142,083 for each of three executives in 2003

CalbaTech is another one of the Berlin Beauties. Otherwise, there's not much that is remarkable about them.

In defense of the three top executives, their filings state that none of them were able to draw 100% of the salaries that was due to them in cash. It's not immediately clear whether or not they drew some other form of renumeration in lieu of the salary that was owed them. Sometimes running a company into the ground doesn't pay such a handsome salary afterall.


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