It's nice to know the CEO will be well taken care of.
Employment Agreements
On July 1, 2016, the Company executed an employment agreement for the period from July 1, 2016 to June 30, 2017 with Nadav Elituv, the Chief Executive Officer of the Company whereby the Company shall pay 15 shares of Common Stock of the Company with a fair value of $1,500 ($100.00 per share) and an annual salary of $360,000 payable monthly on the first day of each month from available funds. NOTE: these are split adjusted figures
On July 1, 2017, the Company executed an employment agreement for the period from July 1, 2017 to June 30, 2018 with Nadav Elituv, the Chief Executive Officer of the Company whereby the Company shall pay 20,000 shares of Common Stock of the Company with a fair value of $926,000 ($46.30 per share). NOTE: these are split adjusted figures
On September 10, 2018, the Company executed an employment agreement for the period from July 1, 2018 to June 30, 2019 with Nadav Elituv, the Chief Executive Officer of the Company whereby the Company shall pay 50,000,000 shares of Common Stock of the Company and an annual salary of $151,200 payable monthly on the first day of each month from available funds. [color=red]Stock-based compensation – salaries expense related to these employment agreements for the nine months ended September 30, 2018 and 2017 is $1,126,638 and $232,250, respectively. Stock-based compensation – salaries expense is recognized ratably over the requisite service period.
You can lead a horse to water. But you can't make him get down on one knee and do an Al Jolson impression!
