double dipping Directors should be external - but what a raise for employees acting as directors - talk about double dipping. Does anyone know what this is about !!!!!!!!!!!!!
Related Parties
During 2011, companies related to or controlled by officers and directors of the Company were paid $785,004 (2010 -
$421,250) and performance bonuses aggregating $260,320 (2010 - $170,500) with respect to consulting and management
fees. In addition, certain officers of the Company, who also acted as directors were paid a total of $560,894 (2010 -
$48,000) with respect to directors fees. Effective December 1, 2010, the Company renewed Management and
Administrative Services Agreements with companies related to or controlled by officers of the Company with respect to
consulting services. The agreements are for a five year term and payments pursuant to these contracts aggregate $65,417
per month.