Soapy Bubble At Northern Ethanol
Two top executives with Toronto-based Northern Ethanol Inc. have reportedly resigned after the company failed to pay their wages and other expenses, according to documents filed with the U.S. Security Exchange Commission earlier this week.
"Effective Nov. 3, 2008, Mr. Steven Reader resigned his position as chief operating officer of our company," the SEC filing said, "due to the non-payment of wages and expenses owed to him. On Nov. 12, 2008, Mr. Reader left the company."
The SEC document also said that Chief Financial Officer Richard Smith resigned his position effective Nov. 17, "due to the non-payment of wages and expenses owed to him."
"Effective Nov. 3, 2008, Mr. Steven Reader resigned his position as chief operating officer of our company," the SEC filing said, "due to the non-payment of wages and expenses owed to him. On Nov. 12, 2008, Mr. Reader left the company."
The SEC document also said that Chief Financial Officer Richard Smith resigned his position effective Nov. 17, "due to the non-payment of wages and expenses owed to him."