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Voices of Reason

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Voices of Reason

Re: None

Monday, 10/22/2012 5:22:05 PM

Monday, October 22, 2012 5:22:05 PM

Post# of 25333
Quarterly report out and it isn't pretty: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8873051

Items of note:
Outstanding shares increased by about 535,000 primarily attributable to payment to consultants

Revenue for the quarter was $20,345 (that equates to about 1 Solapad per day in sales)
Cost of sales = $23k (oops)

G&A = $789k for the quarter (GOOD GAWD!)

Pre-Paid licensing fee to Barefoot Science = $6 million - this was derived from the value of 2.5 Million Preferred B convertible (2:1 to Common) shares.

Employment contracts:
Strasler = $150k per year + 150k option shares
Ritchie = $240k per year + 250k option shares
Johnson = $84k + 100k option shares


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