Regarding Oilex compensation to President Oliver H Timmins, III:
The following are taken from the NV/10KSB filed with SEC by Oilex on August 5, 1997.
During 1996, . . . another 640,000 shares of common stock were issued to the President of Oilex as compensation for personal services.
During 1996 Oilex paid $52,949 for legal services to its President and Director who is an attorney.
Would the company please enlighten us as to the total dollar value, at time of distribution, of the 640,000 shares distributed to Mr. Timmins?
Would the company please enlighten us as to the legal basis of having the President of the company receive additional compensation for services categorized as legal representation?
How can a legal representative of Oilex provide sound and credible services to the company when, in fact, that legal representative is also the President of the company to which he is providing legal services?
Are there accounting records or billings on record with Oilex to reflect the legal services provided by Mr. Timmins on behalf of Oilex?
Offie |
