Thursday, April 13, 2017 9:09:22 AM
Speaking of, "Useless"; when the money man is so arrogant that he drives away creativity and investors, the results are....well,,,, obvious.
Further, 8-K item 5.02 requires notice of a Director's departure if the departure was based on refusal by the Director to continue and/or the departure had any contractual financial ramifications (either positive or negative) associated with that departure. Notification is required within four (4) days of the event. Two lines in 10K, 3 months later stated as a, "By the way, someone left the Company" is not an acceptable Notice to Shareholders. Especially when that someone is/was the Chief Technology Officer.**
Taken from the latest 10-K
Read carefully
As compensation for serving as the Company's President, the Board of Directors approved an employment contract for Christopher Giordano. Although his duties as President shall begin immediately, his salary shall not be earned or payable until such time that the Company raises at least $2,000,000 in its upcoming private placement.(emphasis added). The base salary for Mr. Giordano shall initially be set at $90,000 per year, but has the potential to incrementally increase up to $200,000 per year based on the Company achieving certain revenue goals. Moreover, Mr. Giordano's contract provides for a minimum annual bonus of thirty-percent(30%) of his base salary, but gives the Company the discretion to award an annual bonus of up to two-hundred-percent(200%) of his base salary.
(So his salary begins when he puts the company in (more) debt.)
As a signing bonus, Mr. Giordano received 250,000 options to purchase shares of the Company's common stock that are exercisable for a period of five years at a strike price of $0.50 per share. In addition, Mr. Giordano's contract provides for up to ten incentive stock option awards of 0.75% of the shares of common stock outstanding per $1,000,000 in net income received by the Company over the next ten years. Such options would be exercisable at the closing bid price for the ten days preceding the Company's achievement of each award milestone.
--------------------
** I do not subscribe to any social media with the exception of 2 message boards, but I think that Joy Nunn belongs to several. It might be helpful if someone dug a little deeper into Joy's departure through social media.
Recent AHRO News
- Maybacks Global and Inventel Products To Launch Global 24 Hour Shopping Channel • InvestorsHub NewsWire • 09/03/2024 01:15:00 PM
- Maybacks Adds Award Winning Show to Its Lineup Discusses Maybacks Opportunity • InvestorsHub NewsWire • 08/22/2024 03:30:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/19/2024 08:15:46 PM
- Mayback's Global Entertainment Signs Global Distribution Agreement with Children's Media Studio • InvestorsHub NewsWire • 08/15/2024 12:45:00 PM
- Maybacks Global Entertainment and DigiTrax Entertainment Sign Agreement to Broadcast "Karaoke Cloud" on iDreamCTV • InvestorsHub NewsWire • 08/12/2024 12:45:00 PM
- Maybacks Global Entertainment and ZEASN Technology Private Ltd. Sign Global Licensing Agreement • InvestorsHub NewsWire • 08/08/2024 11:00:00 AM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 06/12/2024 09:17:11 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 05/15/2024 02:41:55 PM
- Maybacks Global Entertainment To Fire Up 24 New Stations in Louisiana • InvestorsHub NewsWire • 04/16/2024 05:30:00 PM
- Maybacks Global Partners with WiseDV in Launching iDreamCTV: A Next-Generation Streaming Platform • InvestorsHub NewsWire • 04/08/2024 12:30:00 PM
- Maybacks Global Signs Agreements with World's Largest Digital Ad Agencies • InvestorsHub NewsWire • 04/04/2024 12:30:00 PM
- Maybacks Global Entertainment Opens 23 More Stations in Important Major Cities • InvestorsHub NewsWire • 03/27/2024 01:00:00 PM
- Former SONY Music SVP of Merchandising Joins Authentic Heroes Team • InvestorsHub NewsWire • 03/20/2024 12:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/26/2024 01:00:26 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/21/2024 06:38:13 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/13/2024 06:08:27 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/20/2023 06:34:45 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM