According to the company, IAB Media Inc. signed a service agreement on December 16, 2009 to provide Investor Relations and to manage the securities awareness campaign. The IAB Media compensation was established at 24 million shares and has now been reduced to 4 million shares, whereby IAB Media has returned to treasury 20 million shares.
"The compensation agreed upon in December of last year did not reflect the extent of the work being performed and we are truly grateful that the people at IAB Media also realized the discrepancy and have agreed to the reduced compensation," said Dr. Max Arella, President of Spencer Pharmaceutical Inc. "The work performed by the IAB Media team is important to the company and their professionalism is truly remarkable," further added Dr. Arella.
