• Filing Date: 2012-11-19
  • Form Type: 10-Q/A
  • Description: Quarterly report (Amendment)
v2.4.0.6
9. OPTIONS OUTSIDE COMPENSATION PLAN
9 Months Ended
Sep. 30, 2012
Options Outside Compensation Plan  
Note 9. OPTIONS OUTSIDE COMPENSATION PLAN

  

On March 25, 2010, the Company granted Non-Statutory Stock Options to purchase 10,000 shares of the Company’s Common Stock to an attorney for services rendered at an exercise price of $.54 per share, with 100% of the options vesting immediately and expiring on March 25, 2020.

 

On March 25, 2010, the Company issued a total of 100,000 Non-Statutory Stock Options to two key employees in accordance with their employment agreement.  The Options have an exercise price of $.54 per share, with 100% of the options vesting immediately and expiring on March 25, 2020.

 

On April 9, 2009, the Company hired a firm as an independent sales organization to promote its proximity marketing units in the sports and entertainment industry. The firm was granted options to purchase 100,000 shares at

$.90 per share outside of Ace’s compensation plan which generates approximately a non-cash $3,000 expense on a monthly basis.