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Message: Railway Media

Re: Pat Nulley

posted on Feb 15, 2007 10:29AM

In case anyone would like to know how Pat is getting paid.

 
Shares
 
Weighted average
exercise price
 
   
#
 
$
 
Outstanding March 31, 2006
   
11,071,666
   
0.19
 
Granted (2)
   
900,000
   
0.16
 
Canceled/expired
   
(245,000
)
 
0.81
 
Exercised
   
-
   
-
 
Outstanding December 31, 2006 (1)
   
11,726,666
   
0.17
 
Exercisable at December 31, 2006
   
6,298,330
   
0.20
 

(1)
Options outstanding are exercisable at prices ranging from $0.09 to $0.55 and expire over the period from 2006 to 2011 with an average life of 3.4 years.
(2)
Includes 750,000 shares exercisable at $0.16 per share to an intellectual property consultant assisting in monetizing the Company’s patent portfolio. A total of 100,000 options vested at grant and the balance of 650,000 are performance based vesting only on the achievement of milestones including significant patent license fees.
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