Look at the money these guys are raking in
PER MONTH !!!! Then those HUGE bonuses of $50K to $100K !!
I have never seen that before from a start-up, with no revenue and no potential revenue for at least a year. What is going on here....
$60,000.00 a month just in Exec salaries, nevermind anyone else and of course that minor expense of developing their products, R+D, etc, etc, etc
$21,000 a month for a CTO ??!!!
Looks to me like they'll be running out of money very soon, then what? More dilution of course and at what price?
.25
.20
Who knows....but what I do know is it appears that there will be some major PP's coming and dilution will be a serious problem throughout 2020 and beyond. That is a risk with all start-ups but the salaries listed below are a major
RED FLAG to me. Robert Delamar, CEO
The Company entered into a consulting agreement with Robert Delamar, effective July 1, 2019 (the “Delamar Agreement”). Under the terms of the Delamar Agreement, Mr. Delamar agreed to provide senior consulting services and act as Chief Executive Officer of the Company at
a base rate of $15,000 per month plus GST. The Company agreed to pay Mr. Delamar a bonus of $50,000 if the Company achieves a market capitalization of $50,000,000 and a bonus of $100,000 if the Company achieves a market capitalization of $100,000,000. The Company may terminate the Delamar Agreement by providing Mr. Delamar with 30 days written notice to that effect.
Michael Malana, CFO
The Company entered into a consulting agreement with Michael Malana, effective April 1, 2018 and amended July 1, 2019 (the “Malana Agreement”). Under the terms of the Malana Agreement, Mr. Malana agreed to provide senior consulting services and act as Chief Financial Officer of the Company at
a base rate of $6,000 per month plus GST for an initial period of three months after which the services of Mr. Malana may be terminated by the Company with 30 days written notice to that effect.
Mark Williams, CSO
The Company entered into a consulting agreement with Mark Williams, effective July 1, 2018 and amended July 1, 2019 (the “Williams Agreement”). Under the terms ofthe Williams Agreement, Mr. Williams agreed to provide senior consulting services and act as Chief Science Officer of the Company at
a base rate of $1,000 per month plus GST for an initial period of three months after which the services of Mr. Williams may be terminated by the Company with 30 days written notice to that effect.
Naresh Singhal, CTO
The Company entered into a consulting agreement with Naresh Singhal, effective July 12, 2019 (the “Singhal Agreement”). Under the terms of the Singhal Agreement, Mr. Singhal agreed to provide senior consulting services and act as Chief Technology Officer of the Company at a
base rate of $20,834 per month plus GST. The Company agreed to pay Mr. Singhal a bonus of $50,000 if the Company achieves a market capitalization of $50,000,000 and a bonus of $100,000 if the Company achieves a market capitalization of $100,000,000. The Company may terminate the Singhal Agreement by providing Mr. Singhal with 30 days written notice to that effect.
Kulwant Malhi, Chairman
The Company entered into a consulting agreement with Bullrun Capital Inc., a private company controlled by Mr. Malhi, effective April 1, 2018 and amended July 1, 2019 (the “Bullrun Agreement”). Under the terms of the Bullrun Agreement, Bullrun Capital agreed to provide senior consulting services, including strategic advisory, corporate, financing, marketdevelopment and capital markets services to the Company at a
base rate of $15,000 per month plus GST. The Company agreed to pay Bullrun Capital a bonus of $50,000 if the Company achieves a market capitalization of $50,000,000 and a bonus of $100,000 if the Company achieves a market capitalization of $100,000,000. The Company may terminate the Bullrun Agreement by providing Bullrun Capital with 30 days written notice to that effect.
https://www.firstrespondertech.com/docs/PrelProspectus1stResponder.pdf