Check out this 10KSB...looks like Carnes and Niers are making some big bucks ... wanted to get in this stock but not sure...
ITEM 10. EXECUTIVE COMPENSATION
(A) GENERAL
The following table sets forth information concerning the total
compensation that we have paid or that has accrued on behalf of our chief
executive officer and other executive officers with annual compensation
exceeding $100,000 during the most recent fiscal year ending December 31, 2006
and for the fiscal years ending December 31, 2005 and 2004. The remuneration
described in the table does not include the cost of GREM USA's benefits
furnished to the named executive officers, including premiums for health
insurance and other benefits provided to such individuals that are extended in
connection with the conduct of GREM USA's business.
(B) SUMMARY COMPENSATION TABLE
Annual Compensation Long Term Compensation
--------------------------------------------------------------------
Awards Payouts
---------------------------
All other
Name and Principal Restricted LTIP compen-
Position Year Salary Bonus Other Stock Options Payouts sation
---------------------------------------------------------------------------------------------------
Edward Miers, 2006 $1,200,000(1) -0- -0- -0- -0- -0- -0-
Chief Executive
Officer and 2005 $1,200,000(2) -0- -0- -0- -0- -0- -0-
President 2004 $ 300,000(3) -0- -0- -0- -0- -0- -0-
-20-
<FN>
(1) During the fiscal year ended December 31, 2006, our sole officer and
director did not receive cash compensation for his services. $1,200,000
of his salary has been accrued at December 31, 2006.
(2) During the fiscal year ended December 31, 2005 our sole officer and
director did not receive cash compensation for his services, however,
he did receive 1,000,000,000 restricted shares of the Company's common
stock, on May 2, 2005, valued at $300,000 as partial compensation for
his services during 2005. Mr. Miers has accrued his remaining salary
for 2005.
(3) During the fiscal year ended December 31, 2004 our sole officer and
director did not receive cash compensation for his services as an
officer or director, however, on February 10, 2005, he did receive
1,000,000,000 shares of the Company's common stock as compensation for
his services during 2004. The shares were valued at $300,000.
</FN>
CONSULTANTS COMPENSATION
Due to our lack of cash and inability to generate revenues at this
point in time, we have utilized the services of consultants, whom have received
stock for compensation. The following consultants received stock for
compensation in excess of $100,000.
NAME OF AMOUNT OF VALUE OF TYPE OF
CONSULTANT SHARES ISSUED SHARES SERVICES
Steve Carnes 490,000,000 $354,000 Management and M&A Services
