Applied Minerals Inc (fka AMNLQ)

[wald]

Mr. Lyon is not a full time CEO. Nor did he become a director, He works out of Chicago. He is president (and presumed owner) of Cirrus Advisors Inc., a business consulting firm. Michael T. Lyon is not exactly hired by Atlas Mining Company. Cirrus will receive $75,000 for Mr. Lyon's services to Atlas and will also receive options to buy 50,000 ALMI shares with an exercise price of 65 cents (a $3,500 investment) over the period of time Mr. Lyon is performing work for Atlas.
Once again it is not easy to understand what is going on. I
suppose Cirrus is an S corporation and therefor the employment contract can be entered into by Lyon with payment directed to his corporation. But is he being paid for one day in June, or is the "June period" one of the months of the contract? Not that that matters, but is he going to be around until the end of the year? More importantly: what exactly does Mr. Taft expect Mr. Lyon to accomplish?