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Message: Re: Public offering

From stockwatch

The prospeutous shows mag is planning to raise $10,000,000.

Also regarding the Burtons retirement here is a qoute...

On October 25, 2010, the Company entered into a retirement agreement (the "Retirement Agreement") with William B. Burton ("Mr. Burton") and Sally Burton ("Mrs. Burton"), the former Chief Executive Officer and President of the Company and the former Corporate Secretary of the Company, respectively. Pursuant to the terms
of the Retirement Agreement, Mr. and Mrs. Burton agreed to retire from their respective employment as officers of the Company and as officers and directors of the subsidiaries of the Company. Mr. and Mrs. Burton have agreed to be retained as consultants to the Company until October 2011 to provide services in respect of the transition of
relationships between themselves and shareholders, suppliers, lenders and other third parties and the sharing of business practices used in their performance of the respective roles as employees of the Company. Pursuant to the Retirement Agreement, Mr. Burton is entitled to receive an aggregate of $1,196,000, less applicable withholding taxes and health and dental coverage consistent with the group benefits coverage for employees of the Company until October 2011. Mrs. Burton is entitled to receive an aggregate of $450,000, less applicable withholding taxes and health and dental coverage consistent with the group benefits coverage for employees of the Company until October 2011. Mr. and Mrs. Burton are subject to confidentiality restrictions and Mr. Burton is subject to a noncompetition and non-solicitation provisions until October 2012. In addition, all options held by Mr. and Mrs. Burton have vested and Mr. and Mrs. Burton will continue to be entitled to participate in the stock option plan of the
Company until such time as they have fulfilled their consulting obligations under the Retirement Agreement.


Nov 09, 2010 10:50AM
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