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VIRTUAL MEDICAL CENTRE INC

virtual medical centre, inc. form 10-k

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The high and low bid quotations for the Company’s shares on the OTCQB and Pink Sheets have been:<br />

Month Ended High Low<br />

Through October 12, 2010 $ 0.35 $ 0.28<br />

September 2010 $ 0.36 $ 0.29<br />

August 2010 $ 0.40 $ 0.33<br />

Holders<br />

The Company’s shares are issued in registered form. Colonial Stock Transfer Company, of 66 Exchange Place, Salt Lake City, Utah<br />

84111 (801) 355-5740 (Phone), (801) 355-6506 (Fax), is the transfer agent for our shares.<br />

On May 27, 2010, the Company cancelled 32,500,000 shares of its common stock. As a result, as of October 6, 2010, the Company had<br />

84,253,764 issued and outstanding common shares, held by 86 shareholders.<br />

Common Stock<br />

We are currently authorized to issue 200,000,000 shares of common stock, par value $0.001. As of October 6, 2010, 84,253,764 shares<br />

of common stock were issued and outstanding.<br />

Dividend Policy<br />

We have not paid any cash dividends on the shares of common stock, and we have no intention of paying any dividends on our shares<br />

of common stock in the near future. Our current policy is to retain earnings, if any, for use in our operations and in the development of our<br />

business. Our future dividend policy will be determined from time to time by our board of directors.<br />

Securities Authorized for Issuance Under Equity Compensation Plans<br />

Under the terms of their respective employment agreements, each of Messrs. Hughes and Maher is eligible to earn shares of the<br />

Company’s common stock and options to purchase shares of the Company’s common stock in accordance with an Executive Performance Bonus<br />

Schedule, copies of which were filed as schedules to such employment agreements as Exhibits 10.4 and 10.5, respectively, to the<br />

Company’s Current Report on Form 8-K filed on May 28, 2010. According to such Executive Performance Bonus Schedule, awards may be<br />

granted to each of Messrs. Hughes and Maher as follows:<br />

<br />

<br />

Website Member Subscription Based Awards – The Company may grant options upon obtaining certain threshold numbers of<br />

subscribers to the Company’s website. At each milestone number of subscribers achieved, the Company may grant 100,000 options for<br />

a maximum total of 700,000 options for all milestones in the aggregate once the Company has obtained 1,000,000 subscribers. Upon<br />

issuance, the options are immediately exercisable for an exercise price of AU$0.16 ($0.137) and expire four years from the date of<br />

grant.<br />

Sustained Website Traffic Based Awards – The Company may grant options upon obtaining certain threshold numbers of unique<br />

visitors to the Company’s website that are sustained over a six-month period of time. At each milestone number of unique visitors<br />

sustained over a six-month period, the Company may grant 100,000 options for a maximum total of 500,000 options for all milestones<br />

in the aggregate once the Company has achieved 2,000,000 sustained, unique visitors. Upon issuance, the options are immediately<br />

exercisable for an exercise price of AU$0.16 ($0.137) and expire four years from the date of grant.<br />

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