Held on June 3, 2010

Standard points to be confirmed, apart from one issue that I find very positive:

Enacting a New Stock Option Plan

Quote:

´The current board of directors of the Company finds that the existing stock option plan is excessive, where 20% of the aggregate number of common shares may be reserved and set aside for issuance.´

The resolution is, to reduce it to 10% !

There currently are 4,035,000 options outstanding:

3,160,000 @ $0.35 (Sep. 30, 2010) (would be nice to see these exercised!)

350,000 @ $ 0.12 (May 19, 2011)

525,000 @ $ 0.12 (Feb. 17, 2012)

FANTOMAS