There's the health insurance and taking fees in stock again...
also at a 50% discount to the current market value of GNID's common stock.
Consulting Agreement
Effective July 1, 2010 the Company entered into a consulting agreement with Axius Consulting Group, Inc (“Axius”). The Company engaged Axius to provide services in connection with the Company's efforts to seek out business relationships and financing to grow the Company's business The Company agreed to pay Axius a retainer of $20,000 per month for a 12 month consecutive period. The Company renewed the year long agreement on July 1, 2011 and again on July 1, 2012. The consulting agreement was not renewed on July 1, 2013. Axius Consulting has at its sole discretion, to have the option to take payment of the accrued fee in cash or as common stock of the business, at a 50% discount to the current market value of the common stock. Certain payments made directly on behalf of the principals of Axius, in the form of health insurance payments of $32,977 in 2013 were applied against balances owing to Axius Consulting Group.
Never attribute to malice that which
can be adequately explained by
stupidity, but don’t rule out malice.
- Hanlon's Razor
