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Yes my friends, you’ve read the title of this article correctly. Alex Walsh, the very young CEO of one of the biggest stock promotions in history (LEXG) was compensated 25,000,000 shares of LEXG common stock on Feb 21st, 2011 at a zero-cost basis, which can be seen here. As of today’s close of $7.65 per share this comes to a whopping $191,250,000, assuming he’s still holding all of his shares. Not too shabby for six months as a CEO of a multi-million dollar penny stock promotion.

This should raise some eyebrows:

The CEO of Goldman Sachs, Lloyd Blankfein’s salary amounted to $19 mil in 2010.

Goldman Sachs 2010 Revenue: 39.2 Billion

LEXG CEO, Alexander Walsh’s Share Compensation: 25,000,000 (at current market value: $191,250,000)

LEXG Lithium Exploration Group 2010 Rev & Cash: $0 (zero)

LEXG – Results of Operations

We have been in the exploration stage since our formation on May 31, 2006 and have not yet realized any revenue from its planned operations.

We have generated no revenues since inception and have incurred $238,685 in expenses through December 31, 2010.

The following provides selected financial data about our company for the three and six month periods ended December 31, 2010 and 2009.

We had cash of $Nil as of December 31, 2010 as compared to cash of $1,965 as of December 31, 2009.

Three months ended December 31, 2010 and 2009. From 10-Q

While LEXG has been a great trading-vehicle for some time, we think that the top is near. LEXG is currently trading at a market cap of 300mil+ with no revenues. It’s just a matter of time before this blatant pump crashes and burns, just make sure you’re not caught holding the bag when it happens.

Is LEXG a good stock to hold longterm?

If after reading this you still think LEXG is a good long-term investment, please do yourself a favor and take your money out of your e-trade account and never log-on again.

Disclaimer: Stockhaven.com currently holds no position in LEXG. Stockhaven.com owners are not short LEXG nor have we ever shorted LEXG, instead we bought shares at approx $1.15 per share. Those shares have been sold.

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