On4 Communications Inc (ONCI)

[QTRADERQ]

"Remember how the genius CEO SB tweeted “working all without a salary” too? LOLZZZZZ"

Poor Steve Berman. He only receives 15 mil restricted common shares per quarter as salary compensation. Plus has an option to receive another 2.5 mil restricted common shares. I hope he remembers to register them before selling lol.

From the July 31, 2017 filing - STEVE BERMAN’S compensation package:

“On March 9, 2016, Mr. STEVE BERMAN was appointed Chief Executive Officer and Director of the Company. MR. BERMAN received the block of 30,000,000 Preferred (super voting) Shares and he was issued 1,500,000,000 restricted common shares in consideration of his acceptance as an Officer and Director and in consideration for bringing the new business plan to the Company. Mr. Berman has indicated his intention to exchange his holding of 1,500,000,000 common shares to preferred shares.”

“The Company entered into an Employment Agreement with MR. BERMAN as of March 9, 2016 which provides compensation to MR. BERMAN at a rate of $10,000 per month and which grants MR. BERMAN the right to acquire up 50,000,000 of the Company's restricted common shares at a price of $0.0001 per share, plus the grant of 70,000,000 stock options exercisable at a rate of 2,500,000 common shares per quarter over 7 years at a price equal to lowest daily trading price in the previous quarter. He is also entitled to receive a profit incentive bonus by way of sales commission equal to 25% of the value of all new executed contracts, net of any payments to outside services, derived by the company from such new contracts. The Company has the right to terminate MR. BERMAN’S Employment Agreement at any time upon payment of 6 month salary in 16 monthly installments following termination.”

Add to that a 25% commission on executed sales contracts which he voluntarily lowered to 12.5% because of poor cash collections from dealers.

As always. JMO