Oceanic Wind Energy Inc V.NKW.H

Alternate Symbol(s): NKWFF

Utilities Utilities - Independent Power Producers

Oceanic Wind Energy Inc. is a Canada-based renewable energy company with a focus on an offshore wind energy project. The Company's primary business is the development of renewable energy projects. It has been developing an offshore wind project on the north coast of British Columbia in Hecate Strait.

TSXV:NKW.H - Post by User

Oceanic Wind Energy Inc

Bullboard Posts

Comment by sevushkaon Feb 11, 2011 5:40pm

278 Views

Post# 18120130

RE: RE: RE: Late Financials ??

    Effective April 1, 2010, as stated in the Company's news release of May
20, 2010, compensation to members of the Board was reduced by 50%. As
part of the newly lowered Board compensation it was also decided that
going forward 25% of that compensation would be paid in the form of
common shares in lieu of cash. Accordingly, the Company issued 76,176
shares for the quarter ended December 31, 2010. Additionally, the
Company issued 158,881 common shares to Michael O'Connor for the period
June 15, 2010 to December 31, 2010. Mr. O'Connor's employment agreement
was modified in December 2010, in recognition of his new role as
President and CEO effective June 15, 2010, awarding $50,000 additional
annual compensation to be paid in the form of commons shares in lieu of
cash.


Definitely good news to shareholders.  Should calm some fears and get us back up to .17-.20 cent level.