Protagenic Therapeutics Inc. (PTIX)

[arnesar]

Sorry in advance if this has been covered already - a thought

Nathan Fong

The Bonus Matrix for the calendar year ending December 31, 2011 is set forth on the 2011 Bonus/RSU Schedule attached hereto as Exhibit A. Notwithstanding the foregoing, if Company does not achieve the goals set forth on Exhibit A by December 31, 2011, but does achieve such goals by March 31, 2012, Executive will nonetheless be entitled to receive the full $35,000 bonus set forth therein which bonus shall be paid within thirty days of achieving such goals. Any amounts payable under this Section shall be calculated using the results reported in the Company’s audited financial statements for the applicable fiscal year and shall be payable in the year following the applicable fiscal year by the later of (A) ninety (90) days after the end of the applicable fiscal year or (B) completion of the Company’s audited financial statements for such year, but not more than 120 days after the end of the applicable fiscal year in any event.

While

The federal securities laws require clear, concise and understandable disclosure about compensation paid to CEOs, CFOs and certain other high-ranking executive officers of public companies. Several types of documents that a company files with the Commission include information about the company's executive compensation policies and practices. You can locate information about executive pay in: (1) the company's annual proxy statement; (2) the company's annual report on Form 10-K; and (3) registration statements filed by the company to register securities for sale to the public.

So I was just think that if Fong did make some goal happen by March 31st, but they could not make it public yet, the way around it is to not file any more - since they would have had to file his $35K bonus on the 10K - I could be off here since I've been up for too many hours in a row- you decide.

Cheers, GL and GN (that means God Luck and Good Night) LOL

ATRN