FULLNET COMMUNICATIONS, INC. (OTCMKTS:FULO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.
On February 19, 2019, the Board of Directors issued fully vested and immediately exercisable options to purchase Four Hundred Eighty Thousand (480,000) shares of the Company’s common stock, par value $.00001 per share, with an exercise price of $.003 per share to certain officers and directors as set forth in the following table:
|
Name |
Title |
No. Shares |
Exercise Price |
|
Kilkenny, Timothy |
Chairman of the Board |
160,000 |
$.003 |
|
Baresel, Roger |
CEO & CFO |
160,000 |
$.003 |
|
Ayers, Jason |
President |
160,000 |
$.003 |
|
TOTAL |
480,000 |
The shares to be issued to the exercise of these stock options shall be characterized as “restricted securities” under the federal securities laws and, accordingly, each certificate evidencing the shares to be issued shall bear the following legend:
The Board of Directors took this action based upon its determination that it was in the best interest of the Company and its stockholders to issue said options for services which these individuals have provided to the Company, as well as to encourage the continued availability of their services to the Company.
As of the date of this action, the Company had 40,000,000 shares of common stock authorized with 13,621,009 shares issued and outstanding.
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About FULLNET COMMUNICATIONS, INC. (OTCMKTS:FULO)
FullNet Communications, Inc. is an integrated communications provider. Through its subsidiaries, the Company provides Internet access, Web hosting, equipment co-location, traditional telephone services, as well as advanced voice and data solutions. It markets its carrier neutral co-location solutions in its network operations center to other local exchange carriers, Internet service providers and Web-hosting companies. Through FullTel, Inc., its subsidiary, it operates as a licensed competitive local exchange carrier in Oklahoma. Through CallMultiplier, Inc., its subsidiary, it offers a cloud-based solution to consumers and businesses for automated calling, texting and voice message delivery. CallMultiplier is a cloud-based solution to consumers and businesses for automated calling, texting and voice message delivery. Through FullNet, Inc., it provides customers with dial-up and connectivity, as well as direct access to Internet applications and resources, including electronic mail.
