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Re: kawklr post# 709

Monday, 05/06/2013 2:21:03 PM

Monday, May 06, 2013 2:21:03 PM

Post# of 37236
If you continue reading, that wasn't cash that was shares issued to them at a value of over .25cents per share.

On April 17, 2012, the Board approved the issue of common stock as a bonus incentive to company management with the issue of 5,200,000 shares of common stock to each of CEO Joe DuRant and Executive Vice President Business Development Frank O Donnell and 2,600,000 shares of common stock to CFO Gerry Shirren totaling in value of $3,315,000 which is included in executive and directors compensation totaling $3,526,970. The stock issued reflects the effect of the stock dividend/forward split.

Joe Durant: CEO, Director 5,200,000 $ 1,326,000
Gerry Shirren: CFO, Director, 2,600,000 663,000
Frank O Donnell: Exec.VP Business Development, Director 5,200,000 1,326,000
Total 13,000,000 $ 3,315,000

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