Good points and definitely something to think about. High compensation might not necessarily be a red flag. But other points mentioned related to audits and audit fees is definitely something that needs to be thought about.
I have limited understanding of how other smallcap companies do it but taking high salary and then lending to the company at high interest rate might not reflect well on the managements image.
Maybe someone needs to ask these questions in AGM etc.
Funny thing about red flags is that they only they get importance in hindsight, when something goes wrong.
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