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Re: oilywankanobe post# 44542

Saturday, 05/27/2017 4:13:36 PM

Saturday, May 27, 2017 4:13:36 PM

Post# of 97078
"As a BOD member is eligible and does exercise that pay option."

I really do want to believe you but you've shown no proof that he received any options....only that he COULD HAVE.

He had an obligation to file beneficial ownership forms to report transactions in shares or derivatives (options) until the filing of the Form 15. Even though the company filings showed common share issuances to him on 14 different occasions in 2008 and 2009 the only beneficial filing form he ever filed was made in 2003.
https://www.otcmarkets.com/ajax/showFinancialReportById.pdf?id=135138
https://www.sec.gov/Archives/edgar/data/1144225/000105023404000025/xslF345X02/primary_doc.xml



The "Annual Report 2013-2014" shows that he received compensation of some kind valued at $314,204 in each of those years on page 10, but the Table show zeroes in all compensation categories. The text says "Mr. Berman has agreed to accept stock awards as his sole compensation until such time the Company has the necessary resources available to provide a traditional compensation plan."
https://www.otcmarkets.com/ajax/showFinancialReportById.pdf?id=135858
Contrary to the above the table in the 2015 Annual Report says that he received $0 in compensation of any kind in 2013 and 2014 (and 2015).
https://www.otcmarkets.com/ajax/showFinancialReportById.pdf?id=152195

The 2016 Annual Report Compensation table (by the way, director compensation is NOT required to be included in that table) again reflects $0 in compensation for the year.
The Ownership table in that Annual Report shows him holding the same 480,103 shares that the prior 3 Reports showed. The only way that could have been true at the end of all of the last 4 years if, as you suggest he has received pay in the form of options would be if 1)he exercised all the options he received and sold all the shares received prior to year end or 2)he never exercised any of the options that you think he received, which obviously would leave him without a source of income.
Again, any of the above activity that occurred prior to the Form 15 filing would have required a Beneficial Ownership Form to be filed by him personally.
The company's 10-K would have been required to reflect any share or options issuances as compensation as well.
https://www.otcmarkets.com/ajax/showFinancialReportById.pdf?id=168491


"As a BOD member is eligible and does exercise that pay option."
One more time. How do you KNOW that? The filings are neither consistent nor reliable and you seem to be certain.








I was given that information....I don't know.