QGP » Topics » Stock Compensation

This excerpt taken from the QGP 10-Q filed Sep 22, 2008.

Stock Compensation

Effective November 1, 2006, we adopted SFAS No. 123(R), “Share-Based Payment,” which is a revision of SFAS No. 123, using the modified prospective transition method. Under this method, stock-based compensation expense for the first quarter of fiscal 2007 includes compensation cost for all share-based payments modified or granted prior to, but not yet vested as of November 1, 2006, based on the grant date fair value estimated in accordance with the original provisions of SFAS No. 123. The Company adopted SFAS 123R beginning on November 1, 2006 and realized an increase in stock based compensation of approximately $413,695; $2,764,317; $244,255 and $554,934, respectively, for the three and nine months ended July 31, 2008 and 2007, as a result of the adoption of SFAS 123(R).

As of July 31, 2008, we have vested options with exercise prices ranging from $1.70 to $37.50 per share and expiring in years 2008 through 2018. We have granted 122,000 options during the quarter ended July 31, 2008, with exercise prices ranging from $1.09 to $2.05 and expiring in years between 2013 and 2018. Using the Black Scholes method these options were valued at $133,336.  These options vest between the years 2008 through 2012. We issued 9,000 options to purchase units similar to the units sold in the secondary public offering to certain employees at an exercise price of $9.95 per unit. These options vested on December 13, 2007, and expire on December 13, 2012. Upon exercise of the unit option, the employee would receive three shares of the company’s common stock and two Class A warrants and two Class B warrants.

From time to time, we issue stock to employees as length of service awards and performance awards. Additionally, we will issue shares to consultants in lieu of cash compensation. These stock issuances are not included in our 2003 Incentive Equity and Stock Option Plan. For the three and nine months ended July 31, 2008 and 2007, we issued 51,911; 77,521; 875 and 2,497 shares of common stock as stock compensation, respectively. The value of the stock is determined by the closing market price on the date earned and issuable. We recorded compensation expense of $53,048; $125,942; $6,344 and $32,871, respectively, in the three and nine months ended July 31, 2008 and 2007, respectively.

This excerpt taken from the QGP 10-Q filed Sep 19, 2008.

Stock Compensation

From time to time, we issue stock to employees as length of service awards and performance awards. Additionally, we will issue shares to consultants in lieu of cash compensation. These stock issuances are not included in our 2003 Incentive Equity and Stock Option Plan. For the three and six months ended April 30, 2008 and 2007, we issued 15,118; 25,610; 1,578 and 2,804 shares of common stock as stock compensation, respectively. The value of the stock is determined by the closing market price on the date earned and issuable. We recorded compensation expense of $34,548; $72,894; $13,246 and $26,527, respectively, in the three and six months ended April 30, 2008 and 2007, respectively.

This excerpt taken from the QGP 10-Q filed Jun 17, 2008.

Stock Compensation

From time to time, we issue stock to employees as length of service awards and performance awards. Additionally, we will issue shares to consultants in lieu of cash compensation. These stock issuances are not included in our 2003 Incentive Equity and Stock Option Plan. For the three and six months ended April 30, 2008 and 2007, we issued 15,118; 25,610; 1,578 and 2,804 shares of common stock as stock compensation, respectively. The value of the stock is determined by the closing market price on the date earned and issuable. We recorded compensation expense of $34,548; $72,894; $13,246 and $26,527, respectively, in the three and six months ended April 30, 2008 and 2007, respectively.

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki