Commentary On Q3 Expenses

Posted: November 17, 2010 by f3technologies in F3 Technologies, Uncategorized

F3 Technologies Inc. recorded payroll expense of $251,877 for the third quarter of 2010.

Of this amount, $197,250 is a non-cash expense. This amount includes $126,000 recorded for the valueof stock issued during the quarter to three employees and one advisor to the Company representing compensation for past services of $45,000 for 2007 through 2009, and $81,000 for current and future services. The Company has made no commitments for additional future stock awards.

The expense also includes $71,250 in deferred compensation of the Chief Executive Office and the President of the Company. As a policy decision, deferred compensation will be payable only when the Company is profitable and has sufficient liquidity to comfortably meet these obligations.

Additional cash payroll expenses recorded during the quarter included $47,629 covering two domestic staff members, $3,412 for Romanian employees, and $3,586 for payroll taxes.

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