Carnegie Development Inc. (CDJM)

[Milesblue42]

Gary F Kimmons IMO Outrageous Revenue-Less Compensation

Gary F Kimmons Revenue-Less Compensation and number of Reverse Splits. What logic did Gary F Kimmons use to justify IMO these staggering amounts of cash and shares when he wasn't generating Revenue?


2009 Securities Exchange Commission filing information
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6826340

Page 31

B) Consulting Agreements

Gary Kimmons. On January 1, 2008, eDOORWAYS entered into a three year employment agreement with Gary Kimmons, to act as the CEO and President of the Corporation. The agreement will automatically extend at the end of the 3 year term, unless notification is given by either party to terminate. Compensation was set and authorized by the Board of Directors and agrees to compensate Mr. Kimmons in the following manner: a) Monthly salary of $25,000 (annual salary of $300,000); b) $60,000 annual cash bonus representing 20% of Executive's annual base salary (executive may elect to receive bonus in the form of common stock rather than a cash payment); c) Company will issue 30,000,000 (thirty million) shares of restricted common stock to the Kimmons Family Partnership, LTD, as a reward for Mr. Kimmons' retention and accomplishments related to the eDOORWAYS initiative in 2008; and, d) eDOORWAYS will issue 750,000 (seven hundred fifty thousand) shares of Series C convertible preferred stock (See Note 8 – STOCKHOLDER’S EQUITY) to be issued in the name of The Kimmons Family Partnership, LTD as a signing bonus to be given to Executive at the time the employment agreement was executed on January 1, 2008.

Information about Gary F Kimmons's 2008 Salary on page 32 http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6826340

Table of Contents

During the year ended December 31, 2008, Mr. G. Kimmons received an additional 4,062,500 shares of common stock and $36,563 in cash in partial settlement of amounts owed under this contract. As of December 31, 2008, accrued compensation and expense reimbursements of $318,243 were included in accrued expenses to related parties.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6826340 Page 34, information about Gary F Kimmons 2006 Salary

Note 8 - Stockholders Equity

Preferred Stock

On January 20, 2006, eDOORWAYS filed a Certificate of Designation to designate 1,000 shares of Series D preferred at a par value of one-tenth of one cent ($0.001). These shares were issued to CEO Gary Kimmons. The Series D Preferred shares have the same dividend rights as the common stock of eDOORWAYS and gives Mr. Kimmons the right to vote on all shareholder matters equal to 51 percent of the total vote. These shares of stock were issued for services and were valued at $762,976.

Some information about Gary F Kimmons 2007 Salary, Page 37
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6826340

During January, 2008, eDOORWAYS issued 30,000,000 shares of common stock to Gary Kimmons, CEO, pursuant to his employment contract for his 2007 performance. Those shares were valued at $270,000 and recorded as general and administrative expense in the statement of operations.

Escue Energy Inc gave the information below to the United States Securities Exchange Commission in 2016 on page 26

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11302385

Elements of Compensation



Our compensation program for the named executive officer consists primarily of base salary. There is no retirement plan, long-term incentive plan or other such plans. We have not yet obtained a revenue stream with which to fund employee salaries and bonus plans. The base salary we provide is intended to equitably compensate the named executive officer based upon the level of responsibility, complexity and importance of role, leadership and growth potential, and experience.



Our Former CEO , Gary Kimmons , was employed under an Employment Agreement dated January 1, 2009 , a copy of which is attached hereto as Exhibit 10.5. Compensation due him under the Employment Agreement for the period January 1, 2009 through Janary 1, 2012 was accrued in the total amount of $728,351 and paid in the form of shares of Common Stock on or about March 25, 2014. C ertain of our current officers , including Sohail Quareshi, Madhu Sethi and Shahmir Quareshi are employed under Employment Agreements dated April 1, 2015, copies of which are attached hereto as Exhibits 10.1, 10.2 and 10.3, respectively. Reference is made to Exhibits 10.1, 10.2, 10.3 and 10.5 for a more detailed description of the terms of their employment.

But yet Escue Energy Inc told the Government the company ran into cash flow issues on 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

How many times did Gary F Kimmons tell the public he wasn't selling shares......? Yet there is record of 5 Reverse Splits since 2002. Didn't Gary F Kimmons have numerous deals to sell discounted shares to Toxic Financiers? Was this not selling of company shares that possibly lead to the 5 Reverse Splits?

http://www.otcmarkets.com/stock/ESCU/profile

Security Notes

Capital Change=shs decreased by 1 for 10 split. Effective date=4-3-02
Capital Change=shs decreased by 1 for 200 split. Pay date=5-18-05
Capital Change=shs decreased by 1 for 2000 split Pay date=09/04/2007.
Capital Change=shs decreased by 1 for 1000 split Pay date=10/27/2011.
Capital Change=shs decreased by 1 for 2000 split. Pay date=06/23/2015.