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Wednesday, January 29, 2020 9:28:07 AM
On January 17, 2020, the Board of Directors of the Company approved the issuance of an aggregate of 300,000,000 options to purchase the Company’s common stock to key employees (the “Options”). The Options vest equally over a period of thirty-six months, have an exercise price of $0.0019 per share, and expire five years from the effective date. The vested Options are exercisable any time after January 17, 2021. An aggregate of 283,000,000 Options were granted to members of the Board and other key employees of the Company. The Options granted to the members of the Board included 50,000,000 Options to Gregory Boden, a director and Chief Financial Officer of the Company, 10,000,000 Options to Kevin Myers, a director of the Company, and 50,000,000 Options to Andrew Van Noy, a director and Chief Executive Officer of the Company.
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