the hiring of Geomorph and Jim Place is a very good moveit will keep the wolves from the door, (present large shareholders) and debt holders, etc.
Read this:
On November 1, 2015 the Company entered into a Management Agreement (the “Agreement”) with Geomorph Consulting, and James Place (the “Consultant”) whereby the Company has agreed to pay a monthly fee of $7,500 per month, plus applicable taxes (the “Fees”) with a term of twenty-four months. The Company will also reimburse the Consultant for all reasonable business, travel, hotel, entertainment and other out-of-pocket expenses which are incurred by the Consultant in the provision of his services. A termination clause has been included whereby the Consultant is entitled to the following fees resulting from change of control or termination by the Company: (i) 3 times the Fee if the Consultant is terminated within the first six months of this agreement; (ii) 5 times the Fee if the Consultant is terminated within six months and one day to one year of this agreement; (iii) 10 times the Fee if the Consultant is terminated from one year thereafter of this agreement. “Change of Control” means any event, including an amalgamation, merger or consolidation that causes: (i) A third party to own or control, directly or indirectly, 50% or more of the voting shares of the Company; (ii) A third party to own or control, directly or indirectly, sufficient voting shares in the Company to elect a majority of the directors of the Company; (iii) An assignment, sale, or transfer by the Company of all or substantially all of the Company’s business to a third party or to an affiliate or a wholly owned subsidiary; or (iv) An assignment, sale, or transfer by the Company of all or substantially all of the Company’s assets to a thirty party or to an affiliate or a wholly owned subsidiary.
This is to discouage anyone from trying to take ownership of HBK for any reason. imo