Nexoptic Technology Corp V.NXO

What the Heck is this ? Severance paid to Daugela bros ????

[Damn1212]

Guys 

I just about chocked when reading this ....We are paying severance to the brothers ??? 

This is a joke right ???? 

Finally, the release, indemnity and settlement agreements (the “Settlement Agreements” and together with the Rights Agreement and the Support Agreement, the “Agreements”) with each of John and Darcy Daugela in respect of the employment agreements entered into by the Daugelas with the Company dated December 1, 2017. The Settlement Agreements provide for mutual releases and indemnities between the parties in consideration of the payment of severance to the Daugelas monthly over a 36-month period. The payments are to be offset, subject to adjustment for proceeds of sales of Company’s securities as held by 3DB on a month by month basis. Included in accounts payable and accrued liabilities as at December 31, 2020 is an accrued severance liability of $209,129 (2019 - $568,000) due to the former CEO and former Chairman of the Company. During the year ended December 31, 2020, the Company paid $8,525 and recognized recovery of $350,346 with respect to the Settlement Agreements.

[Lesalpes29]

Les frerots ont siphonne cette compagnie dans tous les sens...

[mississauga1]

They better come up with good news soon because this is becoming critical now.  8 million shares purchased from d bros for 25 cents , we all know the buyer will dump on the market and crash the share price .  and now Severance every year for the brothers  ?  Henyford calls this agreement genius ?? 

[Damn1212]

This is shocking to say the least !!

[Lesalpes29]

Dracula bros... ok I stop!

[rich39]

lots of drama this morning and being pumped by the usual drama amplifiers, i am definitly a buyer at .25 cents

[Damn1212]

Get a life you lying blood sucker Rich39  Youve been a buyer since 3.74$ all the way to 25 cents ...and you will continue to pump this all the way to 0 cents  Did you Look at the releases from today ? Not 1 penny in Revenue, more dilution and severance payments to the brothers.  Keep pumping you scum. 

[rich39]

lol lol lol...

[AUborealis]

Save your breath. Old News. Go back and read the May 25 NR https://stockhouse.com/companies/bullboard/v.nxo/nexoptic-technology-corp?replyto=32751847&mode=quote&threadid=32750464&source=bullboard "The Settlement Agreements provide for mutual releases and indemnities between the parties in consideration of the payment of severance to the Daugela’s monthly over a 36-month period.

[rich39]

again our bashing crew look like a bunch of jack asses (missassausage, damm and reseacher203) probably others that I have put on iggy laughing stock of the board keep on trying clowns a big lol to you

[Suntrader]

Not sure if this has been mentioned already or not but the severance gets offset by the value of any shares that they sell. With the way they have been firing out paper it just saves the company from having to pay out the severance. Hopefully the end up getting zero $$$