v3.7.0.1
SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2017
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

NOTE 6. SUBSEQUENT EVENTS

 

Compensation for Jon R. Findley, the company’s CEO since September 10, 2016, was increased from $1,500 per bi-weekly pay period to $2,000 per bi-weekly pay period effective on March 10, 2017 in accordance with his employment agreement with the company. The grant to Mr. Findley of the 2.5 million restricted shares of the common stock of FullCircle Registry, Inc. that were also a part of that employment agreement was postponed until a review by the Board of Directors at their next scheduled meeting in May 2017. At that time, it is anticipated that the 2.5 million restricted shares will be granted to Mr. Findley in the form of stock options, according to the determination of the Board of Directors. It is further anticipated that, at this meeting, Mr. Findley and the Board of Directors will also discuss such additional company stock share awards may be granted to Mr. Findley for achieving certain specific goals and targets related to the company’s rollout of the Dine-In Cinema LITE model as well as the general financial performance of both FullCircle Entertainment, Inc. and FullCircle Registry, Inc.

 

As Mr. Findley is fully responsible for leading the strategic decisions driving the growth of the Company, the Board has decided to restructure Matthew T. Long’s role to include Chief Operating Officer as well as Chief Financial Officer. As COO, Mr. Long will be interacting with theater staff in daily operations. As CFO, Mr. Long continues to be responsible for directing the company’s accounting functions, practices, procedures, reports and initiatives.