It's a real shame when you know the answer to your own question but instead try to make it sound like something devious.
"Executive shall also be entitled to receive additional equity compensation in the amounts and upon completion of the following milestones as set forth below..."
entitled to receive Doesn't mean received.
Reason is
If all outstanding options, warrants and convertible shares were to be converted or exercised as of June 30, 2009, the shares outstanding would be 307,750,236. The Company's Articles of Incorporation currently allow for issuance of a maximum of 250,000,000 shares of common stock. As of September 4, 2009, the Company has approximately 226,070,599 shares outstanding, leaving an unissued balance of authorized shares that is not sufficient to service the maximum requirements of all of its convertible securities.
