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SpendSmart Networks, Inc. Message Board

  • fasthollywood2 fasthollywood2 Feb 22, 2013 1:21 PM Flag

    Change will COST Shareholders . $652,692.00 Real Dollars

    So we have a Change in CFO's.
    Let's Quote: "Ms. Petry's compensation consists of the following: (i) an annual salary of $225,000; (ii) eligibility for an annual cash bonus equal to $150,000, upon criteria to be determined (fifty percent (50%) of the first year's bonus to be guaranteed by the Company".
    "Mr. Shultz will receive (i) a severance payment of $352,692, payable in a lump sum within 15 days from the effective date of his resignation".
    "continued enrollment under the Company's medical and dental benefit plans until February 28, 2014".
    "Mr. Shultz has agreed to provide advisory services to the Company at mutually acceptable times and terms, on an as-needed basis". "The payments are subject to such other terms and conditions customary for agreements of this purpose".

    Sounds like, After the Reverse-Split, BMPI will be Selling More Shares to keep FUNding the Party.
    At this rate BMPI will Burn though that 6 mil in cash in 60 Days.

 
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