Replies to Post #27731 onSeaniemac International Ltd (fka BETS)

Replies to #27731 on Seaniemac International Ltd (fka BETS)

Chimaera1950

02/19/08 7:36 AM

#27736 RE: extra #27731

Anything more than the truth is just "extra"

Drugdoctor

02/19/08 7:51 AM

#27738 RE: extra #27731

LOL - READ THIS!!!! Insiders buying restricted shares - it's HUGE....

Insiders have options to buy 30 million shares at .026 until 2013!!! The company just reported 3 BILLION revenue producing transactions since May 07! 10K earnings will be out soon!

http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001144204%2D08%2D010245%2Etxt&FilePath=%5C2008%5C02%5C19%5C&CoName=COMPLIANCE+SYSTEMS+CORP&FormType=8%2DK&RcvdDate=2%2F19%2F2008&pdf=

I liked these parts of the filing...

Name of Executive Officer Number of Shares Underlying the Option
Dean Garfinkel 20,000,000
Barry Brookstein 10,000,000

This is the CEO and the CFO!

THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT"). SUCH SECURITIES HAVE BEEN ACQUIRED FOR INVESTMENT PURPOSES AND NOT WITH A VIEW TOWARD DISTRIBUTION OR RESALE, AND MAY NOT BE SOLD, ASSIGNED, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION STATEMENT FOR SUCH INTEREST UNDER THE SECURITIES ACT AND APPLICABLE STATE SECURITIES LAWS OR AN OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF SUCH SECURITIES TO THE EFFECT THAT REGISTRATION IS NOT REQUIRED UNDER SUCH ACT AND SUCH STATE SECURITIES LAWS.”

Exercise of the Option .

(a) Subject to the provisions of sections 3 and 4, the Option shall be exercisable, in whole or part and from time to time, by written notice of such exercise, delivered to the President or Secretary of the Corporation, at the Corporation’s principal executive offices by either (i) personal delivery, against written receipt therefor, or (ii) by pre-paid, certified or registered mail, return receipt requested. Such notice shall specify the number of Option Shares for which the Option is being exercised (which number, if less than all of the Option Shares then subject to exercise, shall be 100,000 or an integral multiple thereof; provided , however , that, in the event that less than 100,000 Options Shares remain then subject to exercise, the Option may be exercised for such remaining Option Shares) and shall be accompanied by (A) payment of the full aggregate Purchase Price for the Option Shares for which the Option is being exercised and (B) delivery of a duly executed representation letter of Optionee, in a form reasonably acceptable to the Corporation, (1) certifying that Optionee is acquiring such the Option Shares for investment purposes only and not with a view to their sale or distribution, (2) agreeing not to sell, pledge, hypothecate or otherwise distribute the Option Shares, unless a registration statement including such Option Shares is effective under the Securities Act of 1933, as amended (the "Securities Act"), or there is available an applicable exemption thereunder and (3) agreeing that an appropriate legend may be placed on the stock certificate(s) representing the Option Shares have not been registered under the Act and may only be disposed in accordance with the Act or an exemption thereunder. As soon as practicable after receipt by the Corporation of such notice, payment in full of the aggregate Purchase Price for all the Option Shares with respect to which the Option is being exercised and duly executed Representation Letter, the Corporation shall take all necessary actions to cause such Option Shares to be issued and a certificate or certificates representing such Option Shares shall be delivered to the Optionee.

WHEREAS , the Optionee is a valued employee, director and/or officer of, and/or service provider to, the Corporation; and

WHEREAS, the Corporation deems it desirable and in the Corporation’s best interests that Optionee be given an opportunity to acquire shares (each, an “Option Share”) of the common stock, par value $0.001 per share (the "Common Stock"), of the Corporation upon the terms and subject to the conditions set forth in this Agreement in order to provide further incentive to Optionee that is directly linked to increases in stockholder value which will therefore inure to the benefit of all stockholders of the Corporation.