Here are the details in the 10K. How many hundreds of millions of common shares, or preferred shares, did this 'Consultant' get? What services did this 'Consultant' provide? This looks really bad to me, it seems to just get worse and worse as we continue to uncover Eakle's 'deals':
On December 31, 2014, we entered into a three-year consulting agreement with Kaufman & Associates Inc. (“Kaufman”) retroactive for the year ended 2014 (the “2014 Consulting Agreement”).
Pursuant to the terms and conditions of the 2014 Consulting Agreement with Kaufman:
§ For the fiscal year ended December 31, 2014, we agreed to retain Kaufman as a consultant and Kaufman agreed to act as a consultant.
§ The term will encompass the fiscal year ended 2014.
§ Kaufman shall receive an annual compensation of $120,000.
§ In the event of insufficient liquidity, Kaufman will be allowed to receive any unpaid and accrued portion of his cash compensation in the form of common stock or Series B Preferred Stock, as it may choose.
On December 31, 2015, we entered into a consulting agreement with Kaufman & Associates Inc. (“Kaufman”) retroactive for the year ended 2015 (the “2015 Consulting Agreement”).
· Pursuant to the terms and conditions of the 2015 Consulting Agreement with Kaufman:
· For the fiscal year ended December 31, 2015, we agreed to retain Kaufman as a consultant and Kaufman agreed to act as a consultant.
· The term will encompass the fiscal year ended 2015.
· Kaufman shall receive an annual compensation of $120,000.
· Kaufman will receive 1,000,000 shares of our newly created Series D Preferred Stock.
· In the event of insufficient liquidity, Kaufman will be allowed to receive any unpaid and accrued portion of his cash compensation in the form of common stock or Series D Preferred Stock, as it may choose.
The foregoing description of the 2015 Consulting Agreement does not purport to be complete and is qualified in its entirety by reference to the complete text of the agreement filed as Exhibit 10.2 to an 8K filed November 30, 2015 and incorporated herein by reference.
On December 9, 2015, we issued 1,000,000 Series D Preferred shares each to our consultant, Kaufman & Associates Inc. The shares were issued at the market price of the common shares on the date of issuance multiplied by the number of common shares into which the Series D Preferred could convert or $0.03 per preferred share.
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