![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Woodstock Holdings Inc (CE) | USOTC:WSFL | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.07 | 0.00 | 01:00:00 |
Information Statement
Pursuant to Section 14(c) of the
Securities Exchange Act of 1934
Check the appropriate box:
[ ] Preliminary Information Statement
[ ] Confidential, for use of the Commission only (as
permitted by Rule 14c-5(d)(2))
[X] Definitive Information Statement
Payment of Filing Fee (check the appropriate box):
[X] No fee required.
[ ] Fee computed on table below per Exchange Act Rules 14c-
5(g) and 0-11.
(1) Title of each class of securities to which transaction applies: ______________.
(2) Aggregate number of securities to which transaction
applies: ______________.
(3) Per unit price or other underlying value of transaction
computed pursuant to Exchange Act Rule 0-11 (set forth
the amount on which the filing fee is calculated and
state how it was determined): ________________.
(4) Proposed maximum aggregate value of transaction:
_______________.
(5) Total fee paid: ______________.
[ ] Fee paid previously with preliminary materials.
[ ] Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.
(1) Amount previously paid: ___________.
(2) Form, Schedule or Registration Statement No.:_________.
(3) Filing party: _____________.
(4) Date filed: ______________.
Woodstock Financial Group, Inc. 117 Towne Lake Parkway, Suite 200 Woodstock, Georgia 30188
Woodstock Financial Group, Inc.
WE ARE NOT ASKING YOU FOR A PROXY AND YOU ARE REQUESTED NOT TO SEND US A PROXY
The only matter to be acted upon at the Annual Meeting is the election of Directors
Item 1. Date, Time and Place of Meeting. ------------------------------- DATE: March 27, 2008 TIME: 2:00 p.m. PLACE: 117 Towne Lake Parkway, Suite 200 Woodstock, Georgia 30188 Item 2. Voting Securities and Percentage Required ----------------------------------------- Voting Securities: 17,619,008 shares of Common Stock each entitled to one (1) vote per share. Record Date: March 1, 2008 |
Percentage Required: 51% of shares present and voting
NAME & ADDRESS SHARES PERCENT OF OWNED CLASS ------------------------------------------------------------- William J. Raike, III 14,647,000 83.02% OFFICERS & DIRECTORS AS A GROUP 14,687,000 83.25% |
To the best of our knowledge, the persons named in the table have sole voting and investment power with respect to all shares of Common Stock owned by them, subject to community property laws where applicable. The above referenced number of shares does not include shares available upon exercise of the options described below.
Set forth below is information regarding our directors and executive
officers. We have no other management employees besides those described
below, and there are currently no other persons under consideration to
become directors or executive officers.
NAME AGE POSITION ---- --- -------- William J. Raike, III 49 Chairman, President and CEO Melissa L. Whitley 31 Treasurer, CFO and Director Morris L. Brunson 68 Director William D. Bertsche 63 Director Geoffrey T. Chalmers 72 Director |
The Board of Directors has designated an Audit Committee of the Board of Directors consisting of one member, that will review the scope of accounting audits, review with the independent auditors the corporate accounting practices and policies and recommend to whom reports should be submitted within the Company, review with the independent auditors their final report, review with independent auditors overall accounting and financial controls, and be available to the independent auditors during the year for consultation purposes. The Board of Directors has also designated a Compensation Committee of the Board of Directors consisting of three Directors, which will review the performance of senior management, recommend appropriate compensation levels and approve the issuance of stock options pursuant to the Company's stock option plan. All Directors and officers of the Company serve until their successors are duly elected and qualify.
The Audit Committee consists of Morris Brunson.
The Compensation Committee consists of Morris Brunson, William Raike, and William Bertsche.
The following table sets forth the current annual salary of our highest-paid officer:
Name or Group Title Compensation ------------- ----- ------------ William J. Raike, III Chairman, President $ 332,914 and CEO TOTAL SALARIES FOR THE YEAR 2007 OF OFFICERS AND DIRECTORS AS A GROUP $ 91,051 |
The total bonus earned in 2007 by Mr. Raike was $202,914.
In January, 1998 our Board Adopted the Raike Financial Stock Option Plan and authorized the reservation of 800,000 shares of our Common Stock for issuance pursuant to the Plan. The Plan is intended to provide qualified stock options under the Internal Revenue Code to employees, registered representatives, consultants and others in the service of the Company, in recognition of services rendered.
The options are to be issued upon such terms and restrictions as shall be determined by the Compensation Committee of our Board of Directors.
Neither the options nor the underlying Common Stock are registered for public sale under the securities laws. The options Common Stock cannot be transferred unless so registered or pursuant to an opinion of counsel that such registration is not required. In December 1998, we adopted the 1998 Employee Stock Option Plan, (the "Plan"). See below under "Executive Compensation." During 1998, 1999 and 2000 the Company did not grant any options or issue any shares under the Plan.
In 2001 555,500 options were issued to 21 persons. In 2002 no options were issued. In 2003, 14,500 options were issued. In 2004, 2005 and 2006 no options were issued.
In May 2007, the Board of Directors approved increasing the total shares available for potential future option grants to 25 million shares. During July 2007, 2,257,000 options were issued.
No directors and officers currently hold any options.
The majority shareholder receives consulting fees in the amount of $130,000 annually. In addition, the Company pays a bonus equal to 2.5% of revenues to the majority shareholder. The majority shareholder's spouse also receives consulting fees of $120,000 annually. During the year ended December 31, 2007 and 2006, the majority shareholder earned a bonus of $202,914 and $231,606, respectively. Of the $231,606 bonus earned in 2006, $37,173 was forgiven.
In 2004, the Company entered into an agreement with Pea Pod Consulting Inc., which is owned by a former member of the Company's Board of Directors. This agreement called for annual consulting fees for services related to regulatory compliance and other operational issues totaling $84,000, of which a total of $35,538 was paid during 2007 and $84,000 was paid during 2006. Pea Pod Consulting Inc. resigned from the agreement effective April 20, 2007. Pea Pod Consulting Inc. resigned voluntarily to pursue other opportunities.
There have been no changes in accountants or disagreements with accountants on accounting and financial disclosure during 2002 or through March 17, 2008.
Further financial information may be found in the Company's reports filed with the U.S. Securities Exchange Commission at www.sec.gov. Copies of these reports will be furnished on request by calling (770) 516-6996.
1 Year Woodstock (CE) Chart |
1 Month Woodstock (CE) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions