On November 1 this was filed when mr Earl Sommerville resigned as CFO:
Quote:
"Also effective November 1, 2011, Thomas E. McCabe was elected to serve as the registrant’s Chief Financial Officer. Mr. McCabe, 53, has provided CFO services as a consultant through TEM Associates of Tulsa, Oklahoma since June 2009. From April 1998 through May 2009, he was the Vice President of Flint Services Company of Tulsa, Oklahoma, the parent/holding company for Flintco Construction, Flint Engineering, Flint South America, Kelley Ranch and Kelley Risk Services, which conducted operations in the commercial construction, oil/gas serve and construction, ranching and insurance/risk management industries. He was the Vice President, Finance & Administration for Flint Engineering & Construction from March 1996 to April 1998. Prior to his years with Flint, he worked for Purolator Products from 1983 to 1996 and with Bendix Automotive Group from 1981 to 1983. Mr. McCabe received a Bachelor’s degree from Wake Forest University in business administration and math and an MBA degree from University of Florida.
The registrant has agreed to issue Mr. McCabe 150,000 shares of its common stock and grant a five-year option to purchase 150,000 shares exercisable at $0.15 per share as compensation for the six-month period beginning November 2011. Should the registrant enter into a merger transaction with Euzkadi Corporation of America, S.A., Mr. McCabe would be offered a base salary of $150,000 per year with a bonus of up to 20% on agreed objective completion and a stock option equal to 50% of his base salary."
Unquote.
So, someone has decided it was a good idea to become a CFO of the company with stock as compensation.
Interesting.
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