Carnegie Development Inc. (CDJM)

[Milesblue42]

July-2016-Revised S-1/A: Gary Kimmons $728,351 Compensation

Why kind of logic was Gary F Kimmons using to want to dilute shareholders to the tune of $728,351 in shares? WOW

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11481614

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 January 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. Certain 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.