DD I am surpised at ... the stock was at .08 7 days ago and ran to .50 and back down and just went back to .50 and back down.
WHERE IS THE FLOOR AGAIN? ALso in the filings
On January 31, 1999, the Company's Board of Directors approved the issuance of
1,583,332 shares of the Company's restricted common stock in payment of deferred
compensation owed to the Company's CEO and its President. As identified in the
Company's 10K for May 31, 1998, the Company is obligated under employment
agreements with both the CEO and the President for annual compensation of
$250,000 apiece. Neither officer had received compensation for the period from
June 1, 1997 through December 31, 1998 for deferred compensation totaling
$791,666. In full settlement of the obligation for compensation deferred over
this period, 1,583,332 shares were issued at $0.50 per share. The obligation had
not been previously recorded and resulted in an increase to General and
administrative expenses for the three months ended February 28, 1999.
Wonder why it will not hold .50 ... plus it has been front loaded and .50 is where the defered compensation will tag investors.
:-)
GB |
