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Yeap, my shares are now dewindled down to 1,000 shares & worth 150 dollars & they (T/A) are wanting a 35.00 check to get them tradeable....LOL......What a joke! Well, I had to learn the hard way when I sank 2,500 dollars of my hard earned money into SSTY and then the next day they got halted! ...............LOL......& in the end, this is what I end up with, LOL................................................... GLA!/HLSH
What a joke. I have my restricted share certificate and just got word from the transfer agent that for $20 I can get a new certificate without the restriction. That $20 will be more than the current value of the shares I have. Guess I should not have asked for the certificate last year. That just complicated the matter. Oh well, never expected anything to come of these shares anyway.
Yeah, mine are showing too. And that r/s sure screwed us all.
Mine are showing w/ameritrade but not many.
tdameritrade
Who is your broker?
finally after yrs and r/s....we get the shares...i was liking the opp better before the split and we were trading at .20....lol
oh well....mehor que nada
GREAT!! I will check later and post back in about 4 hours.Right now I have to run.
I will check my account a little later but right now I dont have time.Where do you hold your shares? I have Ameritrade and UBS.
Dale, I woke up today and my shares are free, I didn't pay or ask for it
I received today a paper from Signature Stock Transfer that for $75 dollars I can have my TPID restriction lifted.I just have to send them my original stock certificates along with the $75.
Not complaining, but whats up with the restrictions being freed, and why right before the Qfiling which I think is due today.
Anyone??
WOW, my account shows the shares are no longer restricted.
They are worth just a couple of bucks more, but it's not worth the risk, as this pig will probably sink lower
Last one out, turn out the lights.
Its my opinion that lights will be out soon for both SSTY and TPID. Just my opinion but I would be surprised if MacKay is able to keep his little show going for much longer.
F i got a letter from ameritrade today blanket letter has been issued it costs $116.00 to unrestrict by ta or more with ameritrade hope your shares are worth more than that
man, I don't understand, shouldn't my shares be free now??
~~TPDI...when will we ever get off these restricted shs?
hellllp! ;0)
zooman
MacKays companies are all running like a one legged dog. Its my opinion that the sun will set very soon on MacKays game.
Whats up?
Anything happening?
Anybody know anything?
I have restricted shares and thought they would be free by now.
Has the company received financing?
Chucker, I believe it is supposed to be September 13th. After that date you can have the transfer agent transfer your shares to the street name without a company opinion letter. There are some conditions like whether or not the company is compliant with all their filings. We will see what happens next week.
http://shareholdercommunication.com/discussion_forum/message.asp?MessageID=1055
Hamouth facing two foreclosure actions From: admin1
Versa's Hamouth facing two foreclosure actions
2008-08-18 17:14 ET - Street Wire
See Street Wire (U-IGLB) Versa Card Inc
by Mike Caswell
There is once again hope for those looking to buy Rene Hamouth's house. The promoter, 59, is facing another foreclosure on his West Vancouver home. He has been given six months to pay $702,000 in mortgages owing on the property, or his creditors may sell it.
Two foreclosure actions have been filed by Brent Pascall and Jetmov Mortgage Investment Corp., both of which have mortgages over his property.
Jetmov filed a petition against Mr. Hamouth on April 28, 2008, seeking a declaration that a mortgage it holds on his property is in default. The home, which was assessed at $8.1-million in 2008, is in a hillside area called the British properties, at 2608 Finch Hill.
Jetmov sought an order stating that if it does not receive $351,000 from Mr. Hamouth, it can foreclose on the property and list it for sale. According to government records, Jetmov is controlled by Robert Jeatt, Glenn Kumpula, Peter Moe and Peter Skov.
Mr. Pascall filed a nearly identical petition on June 13, 2008, also seeking a declaration that the mortgage is in default, and asking for permission to sell the house if the arrears are not paid after the six-month redemption period.
On Aug. 11, 2008, two orders Nisi were entered in the court registry at the Vancouver Law Courts. The orders say that interest is accruing on the mortgages at $256 per day, and grant Mr. Hamouth six months to come up with the money. The judge awarded Jetmov and Mr. Pascall their legal costs.
No lawyer entered an appearance on Mr. Hamouth's behalf, and both parties were unable to serve him with their petitions. They had to obtain orders for substitutional service, which allowed them to post a copy on the gate to his house and send one in the mail.
The current foreclosures are not the first time Mr. Hamouth's mortgage has been in default. In June, 2006, another lender, Peoples Trust Company, secured a $2.2-million order against the property, with interest accruing at $400 per day.
That time, an unknown saviour took over the mortgage, saving his property from a sale.
Builder's lien
In addition to the mortgage holders, a contractor is making a claim over Mr. Hamouth's house. A Coquitlam company, Westpac Electric Ltd., is seeking a lien over his land, alleging he did not pay a $21,472 repair bill. In a lawsuit filed on Feb. 19, 2008, Westpac claims that it diagnosed and repaired problems with "complex and extensive lighting systems incorporated into a large mansion" on Mr. Hamouth's property.
Westpac says it sent Mr. Hamouth an invoice on July 31, 2007, but he paid nothing for the work. It said it has filed a claim of lien at the Land Title Office.
Westpac is seeking a judgment for $21,472, a declaration that it is entitled to the lien and an order allowing for Mr. Hamouth's land to be sold should he not pay.
Mr. Hamouth has not filed a response to the contractor's allegations.
Hamouth in the stock market
In the market, Mr. Hamouth is a shareholder of two companies, Versa Card Inc. and True Product ID Inc., both of which trade on the OTC Bulletin Board. He owns 4.9 million shares of Versa Card and three million shares of True Product ID, according to regulatory filings.
Versa Card is developing a "smart card" that it touts as an electronic payment system for convenience stores, fast food, gas, vending machines and other items. The company listed assets of $20,514 and liabilities of $886,401 in its financial statements for the quarter ended March 31, 2008. The stock trades at 48 cents.
Mr. Hamouth was the company's chief executive officer until February, 2007, and his son Ryan served as a director from
September, 2006, to October, 2007.
True Product ID claims to produce anti-counterfeiting products that can be used to prevent forgery. In a Nov. 16, 2007, news release it touted an agreement with a Chinese calligraphy organization that it said could be worth $100-million. The company listed current assets of $454,465 and current liabilities of $1,772,248 in its financial statements for the quarter ended March 31, 2008.
Mr. Hamouth held 300 million shares, or 31.38 per cent of the company, according to a May 7, 2008, information circular. The stock has since rolled back 1:100, presumably reducing Mr. Hamouth's holdings to three million shares. It last traded at $1.05.
http://www.stockwatch.com/swnet/newsit/newsit_newsit.aspx?bid=Z-U:TPID-1525266&symbol=TPID&news_region=U
True Product ID and Hamouth sued over shorting
2008-08-22 13:55 ET - Street Wire
by Mike Caswell
West Vancouver promoter Rene Hamouth is being sued by an investor who alleges that Mr. Hamouth illegally shorted his own company, True Product ID Inc. The investor, Deborah Richdale, says she suffered almost a complete loss as a result.
According to the suit, Ms. Richdale bought shares based on Mr. Hamouth's representation that the stock would rise to $600 after a 1:100 rollback. Mr. Hamouth allegedly said the company only needed $10-million in financing to complete its business plan, and it had a contract to receive that money. Should the stock go down, he guaranteed that he would personally make up the difference, the complaint says.
Mr. Hamouth denied the allegations through his lawyer, Andrew Davis. "Neither he nor anybody he knows shorted that stock at all," says Mr. Davis. "They [the Richdales] are just some people who invested in the stock and lost some money."
Mr. Hamouth says he plans to sue the Richdales for defamation.
Pennsylvania complaint
The suit was filed on July 9, 2008, in Federal District Court in Pennsylvania. In addition to naming Mr. Hamouth as a defendant, it lists his long-time associate Roger Dunavant, West Vancouver resident Richard Specht and Florida resident Wilson Hendricks. The plaintiffs are Oromond Trust, which is a trust controlled by Ms. Richdale for the benefit of her children, and Ms. Richdale.
According to the complaint, Mr. Dunanvant and Mr. Hamouth have committed previous securities violations with at least three other companies. They are identified as Net Command Tech Inc., Smart Video Technologies Inc. and Intrepid Global Imaging 3D Inc. It notes that Mr. Hamouth was found liable for illegal short swing trades in Net Command and Smart Video. It also states that Mr. Hamouth was banned from the Vancouver Stock Exchange.
The suit alleges that Mr. Hamouth approached Ms. Richdale's husband, Brad Richdale, in October, 2007, about investing in True Product ID. He said he was looking for a "select" group of investors.
Mr. Hamouth said the company was close to obtaining over $5-billion in contracts as a follow-up to a $1.4-billion deal with the Chinese government. He also said the stock was going to roll back 1:100 and it would attract institutional invesotrs.
"Hamouth urged Brad Richdale to have the Trust and/or his wife to consider investing ... and guaranteed at least a 500% return," the complaint states.
The Richdales say they confimred Mr. Hamouth's information with the company's chief executive officer, Mr. Dunavant. Then they bought shares in the market. Through a family trust called Oromond, they purchased 6,035,000 shares at 13.1 cents, and Ms. Richdale personally bought 902,200 shares at 10.9 cents. Their total investment was $883,313.
The Richdales say Mr. Hamouth's representations turned out to be false. The company did not have agreements for any financing nor was it close to obtaining new contracts from the Chinese government.
In addition, Mr. Hamouth and Mr. Dunavant falsely represented that they had received independent projections of a $600 price for the stock, the complaint alleges.
Soon after the Richdales bought their shares, the company's price started falling. When Mr. Richdale asked why, he was told by Mr. Hamouth that somebody was shorting the stock.
The Richdales say they later found out Mr. Hamouth was doing the shorting. "Hamouth engaged in such short selling because he knew of the falsity of his representations," the complaint reads.
The complaint also alleges that Mr. Hamouth received 300 million shares as part of a consulting agreement. He unsucessfully tried to use those shares to cover his shorting, but was unable to register them with the SEC because they were not eligible for any exemption.
According to the suit, Mr. Hamouth stood to make a trememdous profit, but he needed to find a way to cover his short. On April 5, 2008, he offered to buy Mr. Richdale's shares for 25 per cent above market price.
By this time, Mr. Richdale learned that Mr. Hamouth had shorted the stock between 13 and 16 cents. The stock then traded at 5.5 cents. He confronted Mr. Dunavant with this information the same day. Mr. Dunavant later admitted that he knew Mr. Hamouth was shorting the stock, but he did not do anything about it, the suit alleges.
On May 27, 2008, the company rolled back 1:100, but the stock continued to fall. On July 1, 2008, it was at 55 cents, which would translate to 55-100ths of a cent before the rollback.
"As a result of Defendants' actions, Plaintiffs have suffered almost a complete loss of their investment," the complaint reads.
Ms. Richdale alleges several breaches of the securities laws in Pennsylvania and California, and a breach of fiduciary duty. She is seeking damages, to be determined at trial, and an injunction restraining Mr. Hamouth from transferring any of the three million shares he holds.
Mr. Hamouth has not filed a response to the suit.
Trouble at home
Mr. Hamouth is also facing trouble in the courts back home. Two foreclosure actions have been filed in B.C. Supreme Court, alleging that he owes $702,000 in mortgages on his $8.1-million house. On Aug. 11, he was given six months to pay, or his creditors may sell his house.
He is also facing a lawsuit from a contractor, Westpac Electric Ltd., which is seeking a lien over his land. It claims he did not pay a $21,472 repair bill. Mr. Hamouth has not responded to the allegations.
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Reader Comments - Comments are open and unmoderated, although libelous remarks may be deleted. Opinions expressed do not necessarily reflect the views of Stockwatch.
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No kidding. This guy is more or less infamous for this type of deal. Kiss your savings good-bye.
Posted by Max @ 2008-08-22 14:07
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RENEE WHAT EVER HAPPED TO YOUR EX PARTNER PHILIP
Posted by SAUL @ 2008-08-22 14:11
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Hamouth and Dunavant. what a pair of scumbags. they should sue the sec and nasd AND the bscs for letting this shit trade at all. anytime these 2 get involved in anything you can be GUARANTEED someone is going to lose their ass. Mr. Caswell, you're always going on about the SEC being such a great regulator. where are they? why are they allowing these crims the ability to steal from the innocent?
Posted by insider @ 2008-08-22 14:21
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Separating sheeple from their money using their own greed as the lever.
A sucker born every minute and a POS ready to prove the point in spades if given half a chance.
Our boy best not visit the USA anytime soon. The authorities will lock that ahole in a jail cell and throw away the frikkin key.
Posted by BoBoSmellsExcrement @ 2008-08-22 14:30
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Deport him back to India now! This is getting ridiculous!
Posted by Enough already! @ 2008-08-22 14:42
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"Deport him back to India now! This is getting ridiculous!.."
Now what would make you assume that R-Boy would be welcomed back? Besides he likes it here in Canada and LOVES living in West Vancouver - where he's become somewhat a folk hero among the young wannabe pink-sheet hustlers.
There he is at the Cactus - holding court and buying the rounds. Nothing short of a font of knowledge and always there to guide the young ones how they too can prosper.
He knows he is pretty well bullet proof as none of the local gremlins want to tangle with him. A travesty? Nay. Black-humor comic relief? You bet!
Posted by Crusader @ 2008-08-22 15:15
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That Rene is such a good boy, I tought him everything that I know. If he decides to visit the US soon, maybe he will be able to share a cell with me.
S.Weiss
Posted by sholam weiss @ 2008-08-22 15:34
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Deport him?? come on this is Canada! we don't deport anyone. Come one come all, bring us your stock promoters, drug dealers, convicts, war criminals and 'refugees". Hey, we will even throw in free medicare, UIC, and WCB! How can you not resist. What a Joke this place has become.
Posted by Du-Rag @ 2008-08-22 17:00
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Hasn't been a good week for rene and co. Poor sap
Posted by easy rider @ 2008-08-22 17:14
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I have to respect a guy who shorts his own deal.I wish i could short bb stocks again.I love the back stabbing.
Posted by pinhus wienhouse @ 2008-08-22 17:21
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Hamouth is obviously a scumbag who should be banned for life from the markets an possibly spend time in jail. But the Richdales are by no means innocent players, in my opinion. Their whole investment was made because they were told that a contract of $5 billion dollars was imminent. Did they not even pause to think that it might be improper for them to buy almost million dollars worth of stock on the market based totally on non-public information? Greed and naivete do not go well together.
Posted by truthhurts101 @ 2008-08-22 17:23
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Rene is small fry!
Posted by Charlie Flynn @ 2008-08-22 18:13
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Rene Shorting his own deal? Naveen Jain did the same thing with Infospace.com, he went on CNBC and claimed he would have the first "trillion dollar" company while selling short. His company went from $31 Billion market cap to $300 Million. Maybe Rene and others like him should go back to doing business on the Bombay Stock Exchange? His method of doing business in the Western world won't be tolerated.
Posted by Karpal Singh @ 2008-08-22 20:46
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Rene is dirty and I have a bar of irish sping with his name on it.He needs to practice better personal hygine,like showering more twice a week.
Posted by pinhus wienhouse @ 2008-08-23 07:20
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I don't know who is more stupid. The sore loser investor or the lawyer who let them file this suit. This sounds so bogus. After reading this article, I went back and checked the stock trading action expecting to see some "short squeeze spike". Quite the contrary. Let me explain.
Facts. From the looks of the Company's SEC filings, it appears that there was well over 100 million shares in the float at that time. And it also appears that the stock went down to the .03 level shortly thereafter and had several million plus share trading days at that time and level. If the defendant is so slick, then why would he be so stupid to even offer to buy back their shares at that time in the six cent level, if he had shorted it all around .14 cents? He could easily have bought it back in the open market at lower levels. With the average daily volme at that time, 6 million shares wouldn't have bumped the stock even 10% if covered over a few days. And with the advantage of hindesight, if he really did short those shares, and the Richdales didn't cover his short, then the aftermarket action proves he was able to cover it at an even much lower price.
BTW. Talk about the The Pot Calling the Kettle Black. This is the same Brad Richdale that had the Florida Attorney General, the FBI, the IRS and the Postal Inspector chasing down his dubious Infomercial dealings that cost poor ignorant "Wanna Get Rich Quick" slobs a lot of money. BTW, it is also the reason we never see Fran Tarkenton around any more.
"Brad Richdale had a successful career as a marketer but it all came to an abrupt end when he was included in a case against National Direct Internet Yellow Pages, a company he had the share. Brad Richdale was visible on cable with his infomercials around 1997-98. He was successfully selling his book Secrets to Making Money Now. These infomercials grossed several million and Brad Richdale became the moneyed man. The program Brad sold was meant to sell products through classified ads and 900 numbers.
Brad Richdale promised his customers that saturating the media with advertisements of your product guaranteed a remarkable turnover. The product came with a series of cassettes and a couple of books. Some people found these tapes informational since they outlined basic marketing techniques like AIDA (Attention, Interest, Detail, Action).
Brad Richdale’s own products were sold in the manner he suggested. Only with Brad, the focus was on backend sales. His products on the infomercials were largely attractive because they were cheap. He would sell the cheaper products through this way and then back this up with pushing for more expensive back-end products through telemarketing. This might be effective but it was also annoying for customers since telemarketers were often too pushy and irritating. Many professionals even disagree with Brad Richdale’s basic strategy, since it sounds preposterous for anyone to market anything successfully.
For his infomercials, Brad Richdale brought in celebrities to pitch for him. In one instance, he got the retired football player, Fran Tarkenton to market his product. All the success vanished when the Florida Attorney General’s office, the FBI, the IRS, and the US Postal Inspector raided the National Direct Internet Yellow Pages office. Richdale was not directly implicated but his associations with NDIYP ended his successful career. He vanished from public view. Many people say that Brad pledges his innocence and claims that acts of fraudulent dealings were conducted without his knowledge but no one seems to be able to put a trace on Brad Richdale."
Brad Richdale 1
And more here
Brad Richdale 2
Posted by FormerMarketMaker @ 2008-08-23 10:20
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no problem.I was surprised to see TPID move up almost every day last week (with low volume). But its been falling some this week. Also SSTY had a big volume day once last week.I wonder if something is up.
Dale. Please excuse my late reply. You are probably correct.
Chucker
chuck, I know you from HISC.I am sure that you know "whocares" very well from over there and he is 1 of the experts here as far as releasing the restriction.I read here that the TA is not letting the restriction be lifted.If you go back to posts #336 and #771 you will learn the process involved.My broker said that if they start the process of lifting the restriction and the TA does not accept it,then you will lose the $200-$300 brokerage fee.So be careful.GLTY
Dale 1953---- THANK YOU for your reply. Do you or anyone else on the board have any idea on the termination of the restriction?
Chucker
chuck, the dividend came from SSTY more than a year ago.If it wasnt in your statement before now, it is probably because your broker doesnt show restricted stock until the restriction expires.I also got a call from my broker a couple months ago asking if I wanted to release the restriction. But according to many here that is not possible.
Got2---- This message will sound VERY stupid to you and to all here on the board. In my monthly statement from my broker ( yes, I still have a broker) I showed owning shares of TPID in my account. It is restricted. This was NOT in my momthly report last month.
I have been mostly away from the stock market except for a few stocks I have. I have been in various and multiple hospitals since a year ago last March.
I assume that a stock I owned in the past has recently ( since July 1 )issued these shares as a dividend from stock I did own.
Can anyone PLEASE give me some information here ? such as who is the major stock, when was this released to me, and anything else that might be available to me. I also have private posting in I-Hub.
Chucker
Another day, week, month, and year, of squat.
Yes,buy low,sell high.
it sure looks like but you never know.
Looks like this goose has been cooked.
yes but not with this one. lol. have only a small position, so no big deal but still hate to see losing money.
You can make a fortune and lose a fortune.
all I been doing is losing!! you mean to say one can also make money??? novel concept
yep I have heard the story. I got in lately and it is playing very well. I can also tell you a story about PFEH now DCNM OTC traded so not even a pinkie or DLAV up to .029 and now 0.0002. this is OTC. You can make a fortune and lose a fortune.
Let me tell you about GLCC....
I first purchased 500000 shares of EFGO then it reversed into ESPR then thanks to a reverse spin-off it became 500 shares of GLCC. Just another stinking pink on it's the way to the cellar.
GLCC, NOT A pos, is real deal imo , if not in you will wish , this one can make up for a few pos's !!!!GLTA !!!!!
same here, but try this one GLCC
He was sure right about ONE thing -- the truth DID come shining through.
Typical pink trash.......
Mine was a spin off of SSTY and I still can't get out! Riding another pink POS to sub penny and eventual death. GLTA
DiamondRob
.006 pre split price. another disappointing day for shareholders.
Balihi, any comments on the current share price. down 70% since split.
Its about that time when MacKay replaces CEO's, Hendricks has been around for a while now... at least a few weeks.
C'mon MacKay, print some shares and get a new guy in here so we can press the "reset" button on failure again.
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True Product ID, Inc...TPDI...SPINOFF FROM SSTY
James MacKay,
It's a true shame how you have treated and misled shareholders. I would strongly recommend that anyone interested in investing in any of your companies read some of the statements that you have made in the past and delivered on none of them.
Moderator
100:1 REVERSE SPLIT ON 6/16/08
VIDEO ARCHIVE
http://www.suretrace.com/ir/chairmanscommunications.html
James MacKay video transcript
http://www.suretrace.com/ir/chairmansspeech_01.html
PRESS RELEASE ARCHIVE
http://www.suretrace.com/ir/news.html
MacKay and ERG
http://www.theaustralian.news.com.au/story/0,20867,21087271-643,00.html
About True Product ID (TPDI)
True Product ID (TPID) offers superior solutions for anti-counterfeiting and security applications. The Company produces revolutionary taggants, which bond on a molecular level, for anti-counterfeiting, asset management and security identification applications and is also a provider of integrated tracking devices and services that offer accurate and rapid results for a range of critical applications including:
http://www.tpid.com/
Approved Reverse Stock Split
On November 7, 2007 the Board of Directors of the Company voted to effect a 30:1 reverse split of the Company's common stock. On November 29, 2007, the Board voted to amend the ratio to 100:1. This action was then authorized and approved by the holders of a majority of the outstanding common shares of True Product ID Inc. authorized to vote. The Board then passed a resolution to effectuate the reverse split immediately, in accordance with all applicable rules and regulations pertaining thereto.
The corporate actions taken were authorized pursuant to shareholders written consent in accordance with the provisions set forth in Section 228 of the General Corporation Law of the State of Delaware and Article I, Section 7 of the Company's bylaws.
CONTACT
Mailing Address
1615 Walnut Street
Philadelphia, PA 19102
(215) 972-1601
General Information: info@tpid.com
Investor Relations: ir@tpid.com
Sales: sales@tpid.com
CEO
Wilson W. Hendricks, III
Former CEO's
Richard Bendis
William R. Dunavant
James MacKay
President
KeKe Wang
Chairman
COMPENSATION
Wilson W. Hendricks, III
On March 4, 2008, we entered into a new Employment Agreement (the "Employment Agreement") with Wilson W. Hendricks, III.
Under the terms of the Employment Agreement, Mr. Hendricks will serve as our chief executive officer ("CEO") for a period of three years. As CEO, Mr. Hendricks will report solely and directly to our Board of Directors. During his term of employment, Mr. Hendricks will earn a base salary of no less than $240,000 per year. In addition to base salary, Mr. Hendricks will be entitled to receive 500,000 restricted shares of the Registrant's common stock immediately upon completion of the Registrant's 100 to 1 reverse split. Mr. Hendricks will also have an opportunity to receive an additional 500,000 restricted shares of the Registrant's common stock at the end of the first year of his contract, based on his performance of certain performance criteria which the Company's Compensation Committee will determine after execution of the contract.
KeKe Wang
On January 14, 2008, we entered into an Employment Agreement (the "Employment Agreement") with KeKe Wang.
Under the terms of the Employment Agreement, KeKe Wang will serve as our president for a period of three years. As president, Mr. Wang will report solely and directly to our Chief Executive Officer, William R. Dunavant, and our Board of Directors. During his term of employment, Mr. Wang will earn a base salary of no less than $150,000 per year. In addition to base salary, Mr. Wang may be paid an annual bonus as our Compensation Committee determines in its sole discretion. Mr. Wang will be entitled to participate in and be covered under all welfare benefit plans or programs maintained for executive officers. We also agreed to maintain a term life insurance policy for Mr. Wang in an amount not less than $150,000 during the term of his employment. The policy shall pay 75% of its face value to Mr. Wang's estate with the remaining 25% to be paid to us.
Transfer Agent
contact info posted soon
Outstanding Shares
current OS will be posted soon
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