Replies to post #10056 on Arete Industries (ARET)

[europtiger]

maybe there is some people in the background wich know something,maybe they pushed up to fast,now try to catch some a little lower before rock&role... just a thought.


euro ;-)

[Oilbull]

ALSO

Contracts Payable

The Company had a director of the Company pay for consulting services related to the marketing of the Company, its financing and financial operations. The director paid the consultants 32,000,000 shares of his stock in exchange for the services valued at $ 230,000. One of the contracts is for a period of one year, the fiscal year 2010, amortized over that period. The second contract is for two years beginning January 1, 2010 and will be amortized over the two year period. The unused balance of the contact is carried as prepaid expenses. The stock will be repaid in equal shares when the Company has shares available to repay the stock and will be adjusted in the event of stock reverse on a prorate basis.

The Company owes a director for services related to the operations of the pipeline business and purchase of oil & gas property. The board of directors has agreed to pay the director on a three year contract beginning January 1, 2010 $245,000 to be paid in the form of 35,000,000 shares of common stock. The expense will be amortized over the life of the contract at $30,625 per quarter and the unused balance being carried as prepaid expenses. The contract will be paid in shares of common stock when the Company has shares available to pay the contract and will be adjusted in the event of stock reverse on a prorate basis..<

[farmerdave]

Te stock price does not have to be .08 for the debt to be converted to stock. It depends on what the agreement says.