Rim Semiconductor Company (fka RSMI)

[spokeshave]

WHP03: Re: and I suspect his plan from the get go was to take more shares and my hunch is he has his ways to turn paper/stock into cash...

In this case, there is no need. If you read the promissory note carefully, you'll see that his bonus money can be converted into shares (in the event they can't afford to pay him in cash) with piggy-back registration rights. This is a first for anyone in this company to my knowledge. Usually, the shares that officers get are restricted. These will not be. They will be free-trading - just like the ZAIQ shares.