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Thursday, June 23, 2016 8:21:19 AM
Was Gary F Kimmons using Convoluted Logic by continuing to receive a Revenue-less, share based salary for decades?
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11302385
Employment Agreements
On April 1, 2015, the Company entered into Employment Agreements with Sohail Quraeshi, our CEO and President, Madhu Sethi, our COO and Shahmir Quraeshi, our CFO, Secretary and Treasurer. Copies of the Employment Agreements are attached hereto as Exhibits 10.1, 10.2 and 10.3, respectively. On January 1, 2009, the Company entered into a three (3) year Employment Agreement with our then CEO, Gary Kimmons. Pursuant to the terms ther e of, the agreement expired as of January 1, 2012 ; however, compensation was accrued for the period January 1, 2009 through January 1, 2012 and paid in the form of Common Stock of the Company on or a b o ut March 25, 2014.
Would there have been any need for yet another name change if Gary F Kimmons would held off on paying himself?
Would there have been any need for multiple Reverse Splits if Gary F Kimmons would held off on paying himself?
Would there have been any need for Escue Energy to have told the Government the following info below if Gary F Kimmons would held off on paying himself? Page F-26
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11302385
Financial Statements for the past three years, 2009, 2010 and 2011
For these three past years, the management prepared the financial statements. Engaged the independent audit firm for audit. Though the audit was almost done, it remains unfinished since this company virtually stopped all the developmental projects and ran into cash flow issues. However, this company is now making necessary arrangements for completing the audit for these three past years.
F-26
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