Over the past few days, we have worked around the clock to preserve cash and protect our company.
Without committed revenues, we are compelled to take difficult actions and are required to cut
significant costs out of our business. In view of this, we have made the following decisions:
• Effective immediately, the BLL Board and I are foregoing our compensation for the next
six months
• All Executive cadre salaries are being cut between 5% and 60% depending on salary levels
• All capital expenditure has been frozen
• All new contractors and consultants have been put on hold and temporary staff have
been discontinued
• All discretionary expenses have been deferred
We are also mindful of the fact that our Staff and Associates will be considerably impacted on account
of reduction in earnings in the form of allowances and overtime. We will be making more critical
decisions over the next few days and will keep you informed.
True pons
