Armada Data Corporation — Board/Management Information 2020

Jan 27, 2020

ARMADA DATA CORPORATION SCHEDULE “B” – SUPPLEMENTARY INFORMATION FOR THE THREE MONTH PERIOD ENDED NOVEMBER 30, 2019

Options Outstanding @ November 30, 2019

Directors, Employees and Others

				Exercise	Exercise	Date	Expiry
		Number	Name	Price		Granted	Date
i)	Directors and
	Officers
		200,000	2190960 Ontario Ltd.		0.11	April 10, 2018	April 10, 2020
			(R. James Matthews)
		200,000	Eli Oszlak		0.11	April 10, 2018	April 10, 2020
		200,000	Glenn Hrabovsky		0.11	April 10, 2018	April 10, 2020
		300,000	Rob Montemarano		0.11	April 10, 2018	April 10, 2020
		100,000	Fred Marotta		0.11	April 10, 2018	April 10, 2020
		1,000,000
ii)	Consultants	200,000			0.11	April 10, 2018	April 10, 2020

Total options outstanding 1,200,000

The options granted to the directors on April 10, 2018 were exercisable one-third on October 10, 2018, one-third on April 10, 2019 and one-third on October 10, 2019.

List of Directors and Officers

R. James Matthews – Director, CEO and President

Elizabeth Matthews – CFO

Eli Oszlak – Director, Vice President

Rob Montemarano – Director, Audit Committee Member

Fred Marotta – Director

Gregory Harris – Director, Audit Committee Member

Glenn Hrabovsky – Director, Chairman, Audit Committee

RELATED PARTY TRANSACTIONS

Included in expenses are the following paid to directors and parties related to directors of the Company:

• a) A director of the Company is also a director and 50% shareholder of Lease Busters Inc. Another director is a partner in a legal firm which provides services to the Company.

• b) Management salaries were paid to officers of the Company, two of whom are directors.

• c) $180,000 in Goodwill was acquired from Cybernet Finder Corporation, which is owned by a director of Armada Data Corporation.

• d) Included in revenue is $4,019 from parties related to directors of Armada Data Corporation (November 30, 2018 $6,429).

• e) Related party receivables of $5,670 are due from parties related to directors of Armada Data Corporation (November 30, 2018 $6,048).

• f) $6,143 in related party payables are due to directors or parties related to directors of Armada Data Corporation (November 30, 2018 Nil).

• g) Included in expenses are the following paid to directors and parties related to directors of the Company:

AdvertisingAutomobileComputer ConsultingManagement SalariesProfessional FeesRentFair value of stock-based compensationexpenseAmounts due from Related PartiesAmounts owing to Related Parties	3 months endedNovember 30, 2019-$3,877-80,76913,675-2,041100,362$5,670$6,143$	3 months endedyear endedNovember 30, 2018May 31, 2019900$ 2,868$ 3,81814,20287513,70780,032307,1185,40019,145-3,00017,45769,827108,482$ 429,867$ 6,048$ 8,741$ -$ 1,762$

All of the above transactions have been in the normal course of operations, and in management’s opinion, undertaken with the same terms and conditions as transactions with unrelated parties. The value of these transactions approximates fair value. All transactions with related parties are measured at their exchange amount.