Games Gizmondo Plays

Gizmondo, the gaming device maker is not selling many devices, has a questionable future, but that hasn’t stopped company’s executives to get fat-off-the-company’s coffers. Mob Happy has the latest skinny, but I leave you with this little something about the extracurricular activities of some of the execs.

Tamela Sainsbury, the corporate secretary of Gizmondo Europe, is the co-habiting partner of Steve Carroll, a director of the Company. In 2004, Gizmondo Europe paid Ms. Sainsbury $149,844 in base compensation, other compensation and bonuses of $82,954 and provided her with a luxury automobile valued at $69,108 at the time of acquisition. In addition, in 2004 the Company issued Ms. Sainsbury atotal of 160,681 shares of the Company’s common stock valued at $467,213. Ms.Sainsbury’s base compensation for 2005 is $192,777.