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Optionable Inc. Message Board

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  • peter_norths_proctologist peter_norths_proctologist Jan 8, 2007 1:21 PM Flag

    We got fantastic news today!

    Hershey09, the Q4 revenue can be derived from the information contained in the footnotes of the Form-4 that was filed with the SEC today. These are the footnotes:

    Explanation of Responses:
    1. Issued pursuant to an Employment Agreement, dated as of October 30, 2005, which requires the Issuer to issue, on a quarterly basis, to the Reporting Person such number of shares as is equal to (i) 2% of Issuer's gross revenue for the preceding quarter, divided by (ii) the fair value per share of the common stock on the date of grant.

    To back into Q4 revenue, this is the calculation:

    [51,140 shares x $2.67]/.02 = $6,827,190

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