Waste Energy Awards CEO 15M Shares and $240K Fee in New Consulting Deal
WAST sits 33% above its 52-week low of $0.003.
Summary
Waste Energy approved a new consulting agreement with CEO Scott Gallagher's entity, granting 15M restricted shares and $240K annual fees, plus debt-to-equity conversions for Gallagher and McBride totaling 13.5M shares at $0.005.
Key Events · Executive and Board Changes · WAST
-
CEO Consulting Agreement with 221 Cap
Three-year agreement effective September 1, 2026 pays $240,000 annually plus performance bonus up to $200,000, and grants 15,000,000 restricted shares vesting 5M per year over three years.
-
Insider Debt Conversions Approved
Board approved converting $37,500 owed to Scott Gallagher into 7,500,000 shares and $30,000 owed to W. Scott McBride into 6,000,000 shares, both at $0.005 per share. No shares issued yet.
-
Dilution Risk Amid Distress
The 28.5M total shares (15M award + 13.5M conversions) represent significant dilution for a company with only 400M authorized shares and a pending proposal to increase to 1.6B.
-
Cash Crisis Context
Q2 2026 10-Q showed cash of $26K and a $5M working capital deficit, making the $240K annual fee a material cash obligation for a company with minimal liquidity.
Analysis · WAST · Trade & Services
Waste Energy Corp. entered into a three-year executive consulting agreement with 221 Cap, LLC — an entity controlled by CEO Scott Gallagher — effective September 1, 2026. The deal pays $240,000 annually plus a performance bonus of up to $200,000, and grants 15,000,000 restricted shares vesting over three years. The Board also approved converting $37,500 of Gallagher's accrued compensation into 7,500,000 shares at $0.005, and $30,000 of McBride's into 6,000,000 shares at the same price. None of these shares have been issued yet. Against a backdrop of $26K cash, a $5M working capital deficit, and a pending vote to quadruple authorized shares from 400M to 1.6B, this compensation package locks in significant equity dilution for insiders while the company is in financial distress.
How filings like this one have moved
In the 30 days to Sep 13, 2026, 35% of the 1333 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.35%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, WAST was trading at $0.00 on OTC in the Trade & Services sector, with a market capitalization of approximately $769.3K. The 52-week trading range was $0.00 to $0.07. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.