J. Stephen Holmes, our Sales Manager is an advisor to and significant shareholder of the Company. The Company incurred $180,000 and $170,000 in professional fees for management consulting services in the three months ended November 30, 2018, and 2017, respectively.

On September 28, 2018, Sean Higgins, one of the Company’s independent directors, was awarded 13,158 shares for services at an assumed fair value of $2.85. For the quarter ended November 30, 2018, the Company recognized $37,500 of compensation expense in its shareholders’ equity for the potion that fully vested at quarter end. The Company also recorded $21,000 and $0 as compensation for his role as independent director for the quarter ended November 30, 2018, and 2017, respectively.

On September 28, 2018, Whitney White, one of the Company’s independent directors, was awarded 13,158 shares for services at an assumed fair value of $2.85. For the quarter ended November 30, 2018, the Company recognized $37,500 of compensation expense in its shareholders’ equity for the portion that fully vested at quarter end. The Company also recorded $22,500 and $0 as compensation for his role as independent director for the quarter ended November 30, 2018, and 2017, respectively.

On November 30, 2018, the Board of Directors awarded 12,296 shares of common stock at an assumed fair value of $3.05 to Kenneth W. Weaver. For the quarter ended November 30, 2018, the Company recognized $37,500 of compensation expense in its shareholders’ equity. For the quarter ended November 30, 2018, and 2017, the Company recorded $22,500 and $0, respectively, as compensation for his role as independent director.