| SCHEDULE OF DEFERRED INCENTIVE COMPENSATION TO OFFICERS |
SCHEDULE OF DEFERRED INCENTIVE COMPENSATION TO OFFICERS
| Note |
|
Date |
|
|
Payment Date |
|
Balance at
June 30, 2021 |
|
|
Balance at
December 31, 2020 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
| Rory Cutaia (A) |
|
|
December 23, 2019 |
|
|
50% on January 10, 2021 and 50% on January 10, 2022 |
|
$ |
215,000 |
|
|
$ |
430,000 |
|
| Rory Cutaia (B) |
|
|
December 23, 2019 |
|
|
50% on January 10, 2021 and 50% on January 10, 2022 |
|
|
161,000 |
|
|
|
324,000 |
|
| Jeff Clayborne (A) |
|
|
December 23, 2019 |
|
|
50% on January 10, 2021 and 50% on January 10, 2022 |
|
|
63,000 |
|
|
|
125,000 |
|
| Jeff Clayborne (B) |
|
|
December 23, 2019 |
|
|
50% on January 10, 2021 and 50% on January 10, 2022 |
|
|
82,000 |
|
|
|
163,000 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total |
|
|
|
|
|
|
|
|
521,000 |
|
|
|
1,042,000 |
|
| Non-current |
|
|
|
|
|
|
|
|
- |
|
|
|
(521,000 |
) |
| Current |
|
|
|
|
|
|
|
$ |
521,000 |
|
|
$ |
521,000 |
|
| (A) |
On
December 23, 2019, the Company awarded Rory Cutaia, Chief Executive Officer and Jeff Clayborne, Chief Financial Officer Annual Incentive
Compensation of $430,000 and $125,000,
respectively for services rendered. The Company has determined that it is in its best interest and in the best interest of its stockholders
to defer payments to these employees. The Company paid 50% of the Annual Incentive Compensation on January 10, 2021 and will pay the remaining 50%
on January 10, 2022.
During
the six months ended June 30, 2021, the Company paid $278,000 of the outstanding balance. As of June 30, 2021, the outstanding balance
amounted to $278,000.
|
| |
|
| (B) |
On
December 23, 2019, the Company awarded Rory Cutaia, Chief Executive Officer and Jeff Clayborne, Chief Financial Officer received a
bonus for the successful Up-Listing to Nasdaq and Acquisition of Verb Direct during fiscal 2019, totaling $324,000
and $163,000,
respectively. The Company has determined that it is in its best interest and in the best interest of its stockholders to defer
payments to these employees. The Company paid 50%
of the Nasdaq Up-Listing Award on January 10, 2021 and the remaining 50%
will be paid on January 10, 2022.
During
the six months ended June 30, 2021, the Company paid $243,000 of the outstanding balance. As of June 30, 2021, the outstanding balance
amounted to $243,000.
|
|