SEC Filing Summary: Security Devices International Inc.
Business Context and Reporting Period
This Form 8-K Current Report was filed by Security Devices International Inc. on February 4, 2009. The registrant is incorporated in Delaware with principal executive offices in Toronto, Ontario, Canada. The report discloses corporate governance actions regarding officer compensation effective retroactively to January 1, 2009.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on the terms of new consulting agreements.
Material Changes
On February 4, 2009, the Board of Directors approved consulting agreements with three officers. These agreements are effective retroactively to January 1, 2009, and terminate on December 31, 2009. The officers will consult on corporate operations and product development. The specific compensation terms are as follows:
| Officer Name | Monthly Consulting Fee | Monthly Automobile Allowance |
|---|---|---|
| Sheldon Kales | $10,000 | $1,500 |
| Boaz Dor | $6,250 | $1,000 |
| Greg Sullivan | $3,125 | $1,000 |
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on financial outlook, or discussion of risks and contingencies beyond the disclosure of the new compensatory arrangements.
Key Facts for Investor Verification
- Verify the total annual cost of the new consulting agreements ($210,000 in fees plus $30,000 in allowances).
- Confirm the impact of these retroactive agreements on the company's Q1 2009 operating expenses.
- Review the company's current cash position to assess the ability to fund these new obligations.
- Note the discrepancy between the metadata company name ("Byrna Technologies Inc.") and the registrant name in the filing ("Security Devices International Inc.").