Tuesday, May 01, 2001 1:21:44 AM
(pursuant to $229.404)
13.1 Transactions with Management and Others
During the year ending December 31, 2000, we contracted with R. L. McBride and Associates, Inc., a Florida Corporation, for professional services in advertising and public relations. Richard L. McBride, our CEO, was the sole owner of R. L. McBride and Associates, Inc. The total amount we paid R. L. McBride and Associates, Inc. through December 31, 2000 was $80,000. Mr. McBride received no direct or indirect compensation from R. L. McBride and Associates, Inc. while serving as an executive for us.
13.2 Indebtedness of Management
NOTE RECEIVABLE-OFFICER
During the year ended December 31, 2000, the Company accepted several non- interest bearing notes from Richard L. McBride, with a balance of $512,757 at December 31, 2000. The notes were collateralized by 6.5 million shares of Mr. McBride's Restricted stock. The loan was repaid prior to the issuance of the financial statements.
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