Annual report pursuant to Section 13 and 15(d)

Related Party Transactions

v3.20.1
Related Party Transactions
12 Months Ended
Dec. 31, 2019
Related Party Transactions [Abstract]  
Related Party Transactions

NOTE 14 – Related Party Transactions

 

On June 17, 2019, our Former Chief Financial Officer, Nannette Toups submitted notice to the Company of her resignation effective August 15, 2019. On September 12, 2019, Ms. Toups Separation Agreement was amended to change her Effective Date to September 15, 2019. Effective September 15, 2019 the Company entered into a one-year Consulting Agreement with Ms. Toups as an independent contractor to provide non-exclusive consulting services to the Company on as an-needed basis at the rate of $100 per hour. The agreement provides that as long as the Consulting Agreement remains in effect, the stock options of the Company held by Ms. Toups shall remain exercisable and continue to vest in accordance with the terms of the Consultants existing stock options agreements of the Company. Through December 31, 2019, Ms. Toups has accrued $4,000 in fees for services rendered under the Consulting Agreement.