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Edgar Filing: TIDELANDS OIL & GAS CORP/WA - Form 10-K - page 44 / 83

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Edgar Filing: TIDELANDS OIL & GAS CORP/WA - Form 10-K

On June 27, common stock

2005,

the Company

to

James

B.

Smith,

authorized the the Company's

issuance of 150,000

Senior

Vice

President,

shares of CFO and

newly appointed member of the Board of Directors $199,125.

.

The transaction was valued at

On November 9, represents the

2004, annual

we issued 500,000 common stock grant under the term

shares to James B. Smith which s of his employment agreement.

One November 9, under the terms

2004, of his

the Company

employment

issued 500,000 common s

contract.

The

shares

were

hares to Michael Ward valued at $417,000.

On October 18, Mr .Dowies bec including an an

2004 we entered into an employment

ame a Company

Vice

nual

stock

grant

of

President. His 100,000 shares.

agreemen

annual

t with Robert Dowies. salary is $ 100,000

On October 13, shares to ACH S Two Million ($ ACH Securities stock warrants shares for Fift $2.50 per share Investment Man interest in the

2004, we sold Four Million (4,000,000) Tidel

ecurities, 2,000,000)

S.A., a company domiciled in Gen

Dollars.

On

October

14,

2004,

i

transaction,

we issued Margaux

Investment

to purchase One Million y ($0.50) Cents per share

(1,000,000)

Tidel

and

One

Million

(

.

Mr. Carl Hessel, a

agement

Group,

S.A.

company and, as

director, is such he has a

common stock warrants.

ands Oil & Gas common eva, Switzerland, for n connection with the

Group,

S.A. common

ands Oil &

Gas common

1,000,000)

shares for

a partner

in Margaux

n indirect

financial

On September 14 under the terms

, 2004, we issued 500,000 shares of common s of his employment agreement. The shares wer

tock to Michael Ward e valued at $427,500.

On September 14

, 2004, the following individuals exercised

common stock options:

On September

1

exercised his

c

payable

on

a

pr

4, 2004,

Michael

Ward,

the

Company's

Pr

ommon stock option to omissory note bearing

purchase 500,000 interest at the

commo rate

esident and Director, n shares for $110,000 of 5% payable in full

on, or before agreement.

September

14,

2005.

The

shares

are

subject

to a

security

On September 14, 2004 Ahmed Karim,

the Company's

Vice

President and Director,

exercised his common st payable on a promissory on, or before Septemb agreement.

ock option to purchase 500,000 common shares

note bearing

er

14,

2005.

interest at the rate of 5%

The

shares

are

subject

pa t

for $110,000 yable in full

  • o

    a

security

On September 14, 2005, exercised his common st payable on a promissory on, or before Septemb agreement.

James Smith, ock option to

note bearing

er

14,

2005.

Financ

ial Officer,

shares

for $110,000

the Company's

Chief

purchase 500,000

common

interest at the rate of 5%

The

shares

are

subject

pa t

yable in full

  • o

    a

security

On June 30, 2004, we is Hessel was a member of

sued 3,322 c our board of

ommon shares to Carl Hessel for directors at the time of issuan

$ 4,983. Carl ce.

The Company executed provide charter air tra

to job sites and other

bearing loan

due in

transaction.

The loan

industry

rates offset

balance.

At December 31

an agreeme nsportation business r January 200 balance is by interest , 2005, the

nt

in January

2004 with a rela

for its

employees,

customers an

elated 7 was

destinations.

made

by

the

A $300,00

Company

r

credited

by airtime

charges

charges computed on the loan balance was $288,506.

ave

ted

party to

d 0

contractors 5% interest

egarding

the

at rage

standard monthly

On January 8, 2004, we

authorized

the issuance of 300,000 common s

hares to Carl

Hessel for services valued at $450,000. Hessel joined our Board of Directors.

These

shares were issue

d

before

Mr.

On

January

8,

2004,

the

Company

issued

James B. Smith

52,800

common

stock valued at $90,816 to a Company

officer

under the St

shares of its ock Grant and

44

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