Conspiracy Entertainment CEO and CFO Waive $450K in Deferred Compensation.SANTA MONICA Santa Monica (săn`tə mŏn`ĭkə), city (1990 pop. 86,905), Los Angeles co., S Calif., on Santa Monica Bay; inc. 1886. Tourism and retailing are important, and the city has motion-picture, biotechnology, and software industries. , Calif. -- Conspiracy Entertainment (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CPYE CPYE Connecticut Partners for Youth Entrepreneurship CPYE Committee for the Promotion of Youth Exchange Projects (Berlin, Germany) ) today announced that its President/CEO Sirus Ahmadi and CFO See Chief Financial Officer. Keith Tanaka have waived $450k in deferred compensation due to them for unpaid salaries. The two, who have been deferring compensation for the last 3 years to help support the company cash flow, will not receive any shares or any other consideration for this waiver. The agreement is the third transaction in recent months which have strengthened Conspiracy's balance sheet considerably. With the waiving of this debt, the company has now cleared over $ 4.2 million in payables in the last 6 months. "This will allow Conspiracy Entertainment to move forward in an even more positive direction and not be hindered by some of its past obligations," remarked Sirus Ahmadi, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "We want to show our shareholders that we are entirely committed to the long term success of the company." "As directors and officers of the company, it is our duty to do what we can to help," said CFO Keith Tanaka. "We are more than happy to do this and will continue our efforts to improve and maintain a healthy balance sheet." About Conspiracy Entertainment Corporation Based in Santa Monica, CA, Conspiracy Entertainment Corporation is a developer, publisher and marketer of entertainment software in North America and Western Europe. The company develops and licenses properties from several sources, including global entertainment and media companies, and publishes software for DVD DVD: see digital versatile disc. DVD in full digital video disc or digital versatile disc Type of optical disc. The DVD represents the second generation of compact-disc (CD) technology. media, wireless devices, personal computers and videogame consoles, including those manufactured by Nintendo, Sony Computer Entertainment and Microsoft Corporation. For more information, please visit our website at www.conspiracygames.com. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion