On September 1, 2012, the company issued an aggregate of 3,350,000 shares of the Company’s restricted shares of common stock to existing shareholder to convert debt of $360,000. Compass Partners, LLC received 1,000,000 shares and Empire Fund Managers received 600,000 shares in consideration for investor relation services valued at $240,000 provided in 2011. Liberty Partners, LLC was issued 1,750,000 shares in consideration for investor relation services valued at $120,000 provided in 2012.
On September 1, 2012 the Company issued 1,600,000 restricted shares at $0.15, in lieu of cash, for investor relations services during 2011, and cancelled $240,000 of Company debt.
On September 1, 2012 the Company issued 1,750,000 restricted shares at $0.007, in lieu of cash, for investor relations services for the first half of 2012, and cancelled $120,000 of Company debt.
October 25, 2012 Flexpoint Releases Two New Products with Wireless Partner Monnit
October 23, 2012 Flexpoint Completes Navistar Process
October 18, 2012 Flexpoint Prepares for Rapid Progress in the Automotive and Trucking Industry
I asked the SEC how a company can afford to pay their CEO 150,000 per year, health benifits, rent and other salaries totalling 600,000 dollars per year and issue stock to investor relations services valued at around 360,000 for a investor relations when the company only brings in 65,000 in total sales and has never signed any major contracts.