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Research Frontiers Inc. Message Board

yashkasf 5 posts  |  Last Activity: Sep 30, 2013 10:12 AM Member since: Feb 15, 2013
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  • Reply to

    Issues 5 million shares of new common stock.

    by jwidner57 Sep 29, 2013 7:16 PM yashkasf Sep 30, 2013 10:12 AM Flag

    Its 3 million, not 5 million. And the employees are not allowed to sell it for 13 months, while the company completes share re-purchase!

    On September 26, 2013, the Compensation Committee of China Information Technology, Inc. approved the grant of an aggregate of 3 million restricted shares (the “Shares”) under the Company’s 2013 Equity Incentive Plan (the “Plan”) at a purchase price of $3.00 per share to some employees (the “Employees”) of the Company. The Shares are vested immediately upon the grant.

    In connection with the grant, upon the approval of the Company’s Audit Committee, the Company, the Company’s Chief Executive Officer, Mr. Jiang Huai Lin (“Mr. Lin”), and each of the Employees entered into separate employee incentive stock purchase agreement (the “Agreement”), pursuant to which, among others, each of the Employees agreed not to resell the Shares until: (1) the Company has completed its share repurchase program that it may adopt shortly after the grant or (2) 13 months after the Shares are issued to the Employee, provided that, the Company does not adopt a share repurchase program during such 13 month period. During the period when the Employee is allowed to resell its Shares, if the Employee resigns, his or her employment is terminated by the Company due to the Employee’s violation of applicable labor law or the Employee is determined to be missing, unconscious, or dead by relevant government authorities, the Shares owned by such Employee will be acquired by Mr. Lin at a purchase price of $3.00 per share.

    In addition, the Company agreed to guarantee the bank loans borrowed by certain non-officer Employees to pay the purchase price of the Shares. These Employees agreed to deposit the stock certificates representing the Shares with the Company until the bank loans have been fully paid off. If the closing price of Shares as reported on Nasdaq market is lower than $3.00 per share on the first trading day after the third anniversary of the date that the

  • yashkasf Sep 27, 2013 7:14 PM Flag

    Such venom, and for what? Just a little song from Family Guy. I don't even smoke weed, really. Just riding the trend with CNIT, looking outside the window, enjoying the view, waiting for the trend to end, for my stop to be triggered. Eveyone seems so tense on the board. Thought they could use a little relaxation.....

  • When I tell you every person needs a way of feelin' good
    Every kitty needs a ball of string and every dog a stick
    But all you need is a bag of weed to really get a kick!
    One, two, three, four, five, six, seven, eight
    A bag of weed, a bag of weed
    Oh, everything is better with a bag of weed
    it's the only hope that you ever need
    Cause everything is better with a bag of weed

  • Reply to

    Straight back to $3.50

    by dr_robinhoood Sep 19, 2013 12:49 PM yashkasf Sep 26, 2013 9:55 AM Flag

    shipoopi shipoopi shipoopi
    the girl thats hard to get

  • Reply to

    Straight back to $3.50

    by dr_robinhoood Sep 19, 2013 12:49 PM yashkasf Sep 19, 2013 2:19 PM Flag

    Is that what is happening? Why did no one tell us before???? I have been holding this bad stock all this time, and didn't know I was losing money with it. Thanks. Thanks a lot for letting us know. You can't rely on SEC or management or anyone else to tell us these things. Glad someone like you finally came along to speak the truth!

5.18+0.02(+0.39%)Sep 18 4:00 PMEDT

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