MMRGlobal, Inc. (fka MMRF)

[croptop]

notable things
And this guy thinks he is a CEO
Lemonade stand does better...

what a deal for Stolar , i.e., marketing consulting?Board fees? REALLY?
Thought Lorsch was marketing genius? Thought RHL gave consulting? What about Loftus?

In conjunction with the Tenth Amended Note, we were required to maintain certain financial covenants, including the requirement that we have at least $200,000 of cash in our bank accounts or such other amount as necessary to maintain operations through the subsequent thirty (30) days and timely pay any obligations due respecting payroll and all associated payroll taxes on and after September 30, 2015. Since we did not meet these covenants as of September 30, 2015, we received a waiver from The RHL Group until November 30, 2015.

On April 2, 2015, the Company and Stradling Yocca Carlson & Rauth, P.C. ("SYCR"), received a letter from an arbitrator in regards to disputes over amounts of monies due SYCR regarding prior services rendered. SYCR and the Company agreed to a mediation of the matter. As of the date hereof, the Company cannot predict the chances of either a favorable or unfavorable outcome.

NOTE 10 - RESTRUCTURING ACTIVITIES

In connection with the merger with Favrille, Inc. in 2009, we signed promissory notes with certain former executives totaling $76,783.

As of September 30, 2015, the total remaining severance liabilities amounted to $620,613, which is reflected as severance liability on the accompanying consolidated balance sheets. This consists of $571,362 payable to former non-executive employees.

We incurred $12,500 during the nine months ended September 30, 2015 and 2014, toward marketing consulting services from Bernard Stolar, a director. We included $198,514 and $174,273 in related party payables as of September 30, 2015 and December 31, 2014, respectively, in connection with these services and board fees.