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DDSI 10Q out... revenues increase by 40.9 %
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[QUOTE]Originally posted by brackep: [QB] What to make of this: (will pps go up to 2 USD ???) Effective November 13, 2006, Digital Descriptor Systems, Inc. (the "Company") granted to each of Anthony Shupin, its President and Chief Executive Officer and Michael Pellegrino, its Chief Financial Officer, 10,000 shares of newly created Series A Preferred Stock ("A Preferred") as recognition for services. The shares vest in five equal monthly installments commencing November 1, 2007. Each share of A Preferred is convertible into 240,000 shares of common stock of the Company starting three years from the date of issuance, provided that the closing bid price of the Company's common stock is then $2.00 per share. The shares of A Preferred may be voted with the Company's common stock on an as converted basis on any matters that the common stock is entitled to vote on as a class. Unconverted shares of A Preferred will automatically cease to exist, and all rights associated therewith will be terminated upon the earlier of (i) that person's termination of employment with the Company for any reason, or (ii) five years from the date of issuance. link: http://biz.yahoo.com/e/061115/ddsi.pk8-k.html [/QB][/QUOTE]
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