other material
confidence high
sentiment neutral
materiality 0.80
Waste Energy grants CEO's 221 Cap 15M shares, $240k/yr fee; seeks 4x authorized share increase
WASTE ENERGY CORP.
- Agreement with 221 Cap (CEO Scott Gallagher's entity) effective 9/1/26: $240k annual fee, performance bonus up to $200k, 15M restricted shares vesting over 3 years.
- Board approves conversion of $37,500 owed to Gallagher into 7.5M shares and $30,000 owed to McBride into 6M shares at $0.005/share.
- Proposal to increase authorized common shares from 400M to 1.6B; stockholder written consent solicited.
- Correction: preliminary consent statement had McBride conversion at $27,500/5.5M shares; corrected to $30,000/6M shares.