I am seriously wondering if ITOX is simply a sideline for Emmons and the other 2 employees.
The 8-k issued by ITOX yesterday states that Emmons, McNemar and Coufal “forgave accrued and unpaid consulting fees owed pursuant to current and previous consulting agreements.”
That leads one to wonder if ITOX’s only 3 employees have a primary source of current income from other endeavors.
It is also perhaps instructive that the 8-k refers to their consulting fees. The fact that their ITOX compensation is referred to in terms of an hourly fee - as opposed to a weekly, monthly or annual salary - suggests that whatever work they perform for ITOX may well be on an irregular basis.
I hope that ITOX is still a viable business, but there is little current evidence that it is.
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