Decision Diagnostics Corp (DECN)

[loanranger]

"And now the revelation any compensation paid to KB as a director doesn't need to be recorded."

If I left anyone with that impression I'm sorry...because it's not quite true.

Here's what I said:
"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."

Before I make matters worse one thing needs to be noted:
DECN was obligated to file with the SEC and according to the relevant SEC rules until 8/5/16 when they filed their Form 15 to end that obligation. Beneficial Owners (Officers, Directors and holders of more than 10%) had personal filing obligations through that date as well.
As of the next day any current filings made by the company should have been made under the OTCMarkets Guidelines***, which don't seem to require ANY compensation reporting by the company. Beneficial Ownership filings became unnecessary.


The SEC 10-K requirements include a SEPARATE table for Director compensation...separate from the Summary Compensation Table, which is intended for the compensation of Executive Officers.
https://www.law.cornell.edu/cfr/text/17/229.402

The DECN SEC filings are impossible to follow even though the requirements are simple enough. For example the 2012 10-K indicates that KB held 2,500,000 options exercisable at a dime as of 12/31/12. It also said "During the fourth quarter of 2012, we granted a total of 2,500,000 options to our board of directors and executive management."
KB had a personal obligation to file a Form 4 for that issuance but he did not, so the usual double check of the 10-K report couldn't be performed. I haven't been able to find any subsequent acknowledgement of that options holding (scheduled to expire in 2015).
The OTCMarkets reporting does not reflect any options holdings.
There was another table in that last 10-K:
"The following table sets forth compensation paid to our board member during the year ended December 31, 2012."
It shows that KB wasn't compensated for Director services (I believe this is typical for Directors who are also Officers) and two different amounts for RJ and WL, which I can't explain....usually that would be accounted for by committee participation, but "We presently do not have an audit committee, compensation committee, nominating committee, executive committee of our Board of Directors, stock plan committee or any other committees."

https://www.sec.gov/Archives/edgar/data/1144225/000107878213000764/f10k123112_10k.htm
https://www.otcmarkets.com/ajax/showFinancialReportById.pdf?id=135138
https://www.otcmarkets.com/ajax/showFinancialReportById.pdf?id=168491

***Can't be linked directly. Go to...
https://www.otcmarkets.com/marketplaces/otc-pink
...and click on Pink Basic Disclosure Guidelines.