Stock based compensations for Vanchester
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Welcome To The Inspiration Mining HUB On AGORACOM
The company is exploring for nickel deposits on its Langmuir property near Timmins, Ontario; for nickel-gold-copper on its Cleaver and Douglas properties; and for molybdenum and rare earth elements at recently acquired Desrosiers property.
Message: Stock based compensations for Vanchester
From the June 2008 MD&A Filed at Sedar Aug 18th
"It is important to note, in that regard, that the stock options which have been granted since the beginning of 2007 in lieu of cash payments over that period all have exercise prices great than the trading price of the Company’s stock over that period. Therefore, unless management’s perform results in a significant increase in the Company’s stock price prior to the expiration of those options, those options will expire unexercised. Should that occur, not only will the Company suffer no dilution from the use of stock options as compensation during that period, but that Management itself, along with the professionals and investor relations parties to whom those options were issued will have received no compensation of value for the periods in which that stock based compensation were issued. It is that very incentive for which stock based compensation is intended."
Financing Activities At this time, the Company does not have, nor has it ever had, any long term debt. During the six-month period ended June 30, 2008, no new public offerings or private placements were undertaken nor were any debt settlements made or property acquired in exchange for any securities issued by the Company. Those which were made in the fiscal year ended September 30, 2007, and from which the Company derived most of its present reserves, are outlined in detail in the Company’s audited Consolidated Financial Statements and the related Management Discussions & Analysis for that period. The Company did issue incentive stock options as set out below for the three-month period ended June 30, 2008. During the fiscal quarter then ended, incentive stock warrants exercised did result in $120,000 net proceeds to the Company. No stock warrants were exercised during that fiscal quarter. Incentive stock options were granted in the amounts and on the terms set out below. (See: “The Company’s Securities – Stock Options”). From the Interim Finanical Statement Sedar filed Aug 18th
11. SUPPLEMENTAL DISCLOSURES WITH RESPECT TO CASH FLOWS The significant non-cash transactions during the nine months ended June 30, 2008 were as follows: a) The Company allocated $133,397 for stock options exercised during the period to share capital from contributed surplus. b) The Company allocated $141,900 for warrants exercised during the period to share capital from contributed surplus.
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