Eff-ing All-You-Can-Eat Buffet
Where is that stench in the air you smelled coming from ??? Director Petra Decher recently awarded 1 million $0.09 options and the new CFO Nicholas Bias 2.4 million options. Senior Executive Armando got 2 million options...But wait, like it or not, the Co. is entitled to issue up to 10% of its outstanding Cap. in options without TSX approval. As of December 31, 2017, a total of 33,450,000 options were outstanding under the Stock Option Plan, representing in the aggregate 5.13% of the issued and outstanding common shares of the Company as of December 31, 2017. As of that date, there were 31,742,951 options available to be granted, or 4.87% of the issued and outstanding shares of the Company to a total of 10% in aggregate...As for other executive compensations (a) In September 2006, the Company entered into an employment agreement with Mr. Cortes pursuant to which Mr. Cortes is employed for a gross salary denominated in Chilean Pesos. Effective January 1, 2014, Mr. Cortes employment agreement was terminated and he subsequently entered into a consulting contract for @ US$19,750 a month. (b) On November 1, 2011, the Company entered into an employment agreement with Mr. Rivera whereby Mr. Rivera is employed for a gross salary denominated in Chilean Pesos until such time as his employment agreement is terminated by the Company or he resigns. His salary as of December 31, 2017 is equivalent to US$263,470. Plus various bonuses for up to an aggregate $854,000 for projects acquired by the Co...The recently terminated former CFO Mr. Downs was entitled to receive $100,000 in severance payment plus 500,000 options @ $0.04.