Paying CFO in mostly cash looks like a good sign to me. Moving away from using shares to pay expenses. This could be just the tip of the iceberg.
On August 1, 2006, the Company entered into a new Consulting
Services Agreement with De Joya & Company, Inc. (see Exhibit 10);
this agreement replaces the prior agreement, dated August 1, 2005.
This agreement covers the services provided to the Company by Arthur
De Joya as chief financial officer of the Company. Under this
agreement, the Company agrees to pay $5,000 each month and 1,250,000
free trading shares of common stock to be issued at the end of each
quarter for a total of four quarters, both effective on August 1,
2006. The monthly fee is to increase by 10% beginning on each
anniversary date of this agreement.
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