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Focus Graphite Inc V.FMS.WT


Primary Symbol: V.FMS Alternate Symbol(s):  FCSMF

Focus Graphite Inc. is a Canada-based advanced exploration company, which is focused on developing high grade flake graphite deposits to supply battery grade graphite. The Company's projects include Lac Knife and Lac Tetepisca. Its flagship Lac Knife Project is a 100% owned, high-grade crystalline flake graphite deposit located in northeastern Quebec, about 27 kilometers (kms) south of Fermont. The Lac Knife project is comprised of the Lac Knife property plus an isolated block of 12 CDC claims located 11 kms to the north of the Lac Knife property on NTS sheet 23B-11 (Montagne-aux-Bouleaux property). Its 100%-owned Lac Tetepisca Graphite Project is located in the Southwest Manicouagan reservoir area of the Cote-Nord region of Quebec, one of North America's leading emerging flake graphite districts. It comprises two contiguous properties, Lac Tetepisca and Lac Tetepisca Nord. Together, the two properties form a block of approximately 126 map-designated claims (total area: 6,785.14 ha).


TSXV:FMS - Post by User

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Comment by scissors14on Apr 06, 2012 4:08pm
200 Views
Post# 19767386

RE: RE: FMS is not cash cow, actually cash eater.

RE: RE: FMS is not cash cow, actually cash eater.
$1,734.063 in management compensation for the three months Oct-Dec. 2011:
 
RELATED PARTY TRANSACTIONS
Administrative fees
Under a cost sharing agreement between the Company and Everton Resources (“Everton”) (which shares common management), Focus reimburses the cost of the Company’s portion of shared salaries and benefits and office expenses paid by Everton. During the three months ended December 31, 2011, the cost of shared salaries and benefits was $27,111 (2010 - $17,010) and office expenses was $14,364 (2010 - $6,990).  Included in amount due to related party is $26,000 ($31,317 as at September 30, 2011, $Nil as at October 1, 2010). During the three months ended December 31, 2011, the Company prepaid an amount of $45,200 to JAG Sky Inc., a private company wholly-owned by an Officer and Director of Focus, for air travel to be used in the near future.
 
Focus Metals Inc
(An exploration stage Company)
Notes to the Condensed Consolidated Interim Financial Statements (Unaudited)
(Expressed in Canadian dollars)
Key management compensation
The following table reflects compensation of key management personnel, including the CEO, CFO and Directors: 2011 2010 $ $
Salaries (including bonuses) (1) 671,250 19,500
Benefits 1,215 - 0
Share-based compensation 1,061,598 - 1,734,063 19,500
Three months ended December 31
(1) Includes director’s fees presented as Management and consulting fees in the consolidated statements of comprehensive loss.
 
16. COMMITMENTS
The Company has committed to provide funding to Grafoid Inc. in the amount of $1,500,000, subject to
regulatory approval. As at December 31, 2011, Focus has made payments totaling $301,579 and has a
remaining commitment of $1,198,421.
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