So how did Tony earn his 30.000.000 shares ?
Stock Award
In addition to the above, we previously had an agreement to award 30,000,000 shares of our common stock to our Chief Science Officer when certain performance measures were met. At December 31, 2002 and March 31, 2003, it was not probable that the shares would ever be issued and accordingly no stock based compensation
was recorded through such date.
During the second quarter of 2003, we approved the immediate vesting of these shares, and in addition agreed to pay the related federal and state income taxes that this officer will incur as a result of these stock grants. As a result, we have recognized approximately $1,334,000 of stock based compensation in the second quarter of June 2003
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