WASTE ENERGY CORP. will pay 221 Cap an annual $240,000 management fee and grant it 15,000,000 restricted common shares under a three-year agreement. Investors also face a proposed increase in authorized common stock from 400,000,000 shares to 1,600,000,000, which requires stockholder consent before becoming effective.

Key Highlights

  • 221 Cap will receive an annual $240,000 consulting and management fee under an agreement effective September 1, 2026.
  • The agreement provides for a 15,000,000-share restricted common-stock award vesting in three 5,000,000-share installments beginning September 1, 2026.
  • The Board approved submitting a proposal to increase authorized common shares from 400,000,000 to 1,600,000,000, subject to stockholder consent.

WASTE ENERGY CORP. (OTC: WAST) will pay 221 Cap, LLC an annual $240,000 consulting and management fee under an agreement effective September 1, 2026. The three-year arrangement also includes revenue-based bonuses and a 15,000,000-share restricted common-stock award.

$240,000 Fee and 15,000,000-Share Award

Scott Gallagher controls 221 Cap and is its designated key executive; he disclosed his interest and abstained from substantive approval. The agreement carries an initial three-year term and an option for one additional three-year renewal. Renewal increases the fee and Bonus amounts by 10%, while thresholds remain unchanged.

The award vests in 5,000,000-share installments on September 1, 2026, September 1, 2027 and September 1, 2028.

Consent Required for Authorized Share Increase

The board approved converting $30,000 owed to W. Scott McBride into 6,000,000 restricted common shares at $0.005 per share. No cash proceeds or Underwriting commissions are tied to those conversion shares, which satisfy an existing obligation. A preliminary consent statement incorrectly cited $27,500 and 5,500,000 shares, with the corrected figures to appear in definitive materials.