Koo – I don’t think you can find Directors’ cost in financials as they are probably contained under “General and Administration”. The only place I know to find it is the Annual Shareholder Management Information Circular posted on SEDAR in Sept./19 for last year’s AGM. New is due soon. I have copied the info. from last year below so you can estimate for yourself how many meetings, etc. Take note of the last paragraph as I would assume that they probably got the $35,000 this year.

Yes, the $409,000 is due from Zenith to RVX. It actually shows as due to Resverlogix in the Zenith statements. On Apr. 30/19 and Jan. 31/20, the numbers were the same in each statements at $865,000 and $959,000 respectively so some has been paid off. In RVX statements, it was $856,000 on Apr. 30/20 and we await the Zenith statements. Yes, Zenith isn’t in as bad shape as RVX but is still not good. On Jan. 31, Zenith had $4.5 million assets and $13.2 million liabilities. The upside is that $8.4 million of liabilities was unearned deposits and unearned license fees that hopefully will be earned so they wouldn’t have to pay that back.

Director Compensation During the fiscal year ending April 30, 2019, the directors’ fees were as follows:

Fee Type                                                          Fee (CAD$)

Annual Fee for a Director 25,000

Additional Annual Fee for Lead Director 10,000

Additional Annual Fee for Chair of Board 15,000

Additional Annual Fee for Chair of Audit and Finance Committee 12,000

Additional Annual Fee for Chair of Corporate Governance and Nominating Committee 8,000

Additional Annual Fee for Chair of Compensation and HR Committee 8,000

 Meeting Fee for Board Meetings 1,200

Additional Board Meeting Fee for Chair of the Board 1,200

Meeting Fee for Committee Meetings 850

Additional Meeting Fee for Committee Chairs for Committee Meetings 850

The Board increased the annual directors’ fee from $25,000 to $35,000, effective May 1, 2018. Pursuant to a loan agreement between the Corporation and the Corporation’s lender, the lender’s approval of any increase in compensation to any director of the Corporation is required. The increase described above has not yet come into effect as the lender’s approval has not been requested.