2008 Consulting Agreement (the “Third Addendum”) whereby the Consultant agreed that in the event the Consultant sold common stock of the Company at a rate exceeding 10,000,000 shares per 30 calendar day period, the Consultant would pay the Company an early-sell fee for each period of $100,000 or an amount equally agreed upon by the Company and Consultant.
During the three months ended June 30, 2010, the Company received $98,000 in fees from the consultant under this provision. During the year ended March 31, 2010, the Company received $708,669 under this provision. The Company recorded these fees against additional paid-in capital.
Is this "Consultant #1" the CPA who got CANNED? THIS IS CRAP. This guy basically sold off all of the shares that he was given in return for services rendered. (Close to 30,000,000 shares)
What a scumbag. I wonder who this Consultant # 1 was..
