No it is not bad at all as long as its done in a reasonable manner,it has gone up alot this year already,and if the float hits a bil shares thats 1 fourth of siri,I like your company and where it could go but ICPA isnt 1 fourth the value of siri just an example,if you were to use shares to real in some big wigs to help and I mean some serious star power then yea use them now how many of the 2bil are left at this point.
On September 23, 2011, the Company entered into an employment agreement with the President and Chief Executive Officer, who is the majority shareholder, whereby the Company’s Board of Directors declared a $250,000 amount payable for a five (5) year employment commitment. The amount has been deferred and will be ratably expensed, as compensation, over the length of the agreement.
On September 23, 2011, the Company entered into an arrangement with a lender whereby the Company assigned certain debt due the majority shareholder, in the amount of $250,000, secured by a five (5) year employment agreement (see related party footnote). The note is convertible into shares of the Company stock, at the demand of the lender. The convertible note is interest bearing at 2% per annum, there are no repayment terms. Terms of conversion define the stock price as at a 50% discount to the stock price defined as the average three deep bids on the day of funding. Since inception of this note, through June 30, 2012 we issued 5,250,000 shares valued at $33,500 in satisfaction of payments. Payments resulted in the recognition of a beneficial conversion, at the time of the issuance, of $15,000 and $0 for the six month periods ended June 30, 2012 and 2011, respectively. Since there is an option for repayment in cash, the beneficial conversion will be determined at the time of demand, if shares are used in satisfaction of the payment request. The remaining balance on this convertible note payable is resulting in remaining balance on this convertible note is $199,000 and $214,000 as of June 30, 2012 and December 31, 2011, respectively --------------------------------------------------------------------------------