|
Note 12 - Subsequent Events
|
3 Months Ended |
|---|---|
|
Mar. 31, 2013
|
|
| Subsequent Events [Text Block] |
NOTE
12 – SUBSEQUENT EVENTS
Bonus
Arrangement
On
April 2, 2013, the special committee approved a bonus
arrangement for Joseph Park, the Company’s Chief
Executive Officer that had been recommended by the
Company’s compensation committee. The bonus arrangement
is intended to incentivize Mr. Park to secure the best
possible price in any sale of the Company. Under the
arrangement, Mr. Park will receive five per cent of the net
proceeds, which would otherwise have been payable to the
shareholders of the Company, of any transaction constituting
a sale of the Company approved by the Board. The special
committee reserved the right to make any determinations
requiring the interpretation of the incentive, in its sole
discretion.
|