CBA Florida Inc. (fka CBAI)

[Edward]

Joe V. has not been paid in full yet.Joe's remaining payoff was only expensed by setting up a liability for the remaining amount in 2016 (CBAI currently is paying $40,000 a quarter), whereas a liability on the books for 6/30/2017 for severance pay of $107,062 remains.Final payment will be in 2018. As was stated in a news release dated 3/28/2017 discussing the 2016 results, states no expenses will be incurred for Joe's severance pay after 2016 (expenses only, but CBAI still owes him money).See below.

From the 3/28/2017 news release.

"Net income for the three-month period ended December 31, 2016 was $0.002 million compared to net income of $0.02 million for the period ended December 31, 2015. Included in fourth quarter 2016 net income was severance expense of $0.04 million related to the Company's former President and a one-time charge of $0.19 million taken for the remaining severance payable as of December 31, 2016. Going forward, the Company will no longer incur severance expense related to the former President."