Due to the tough economic times present in both the merchant service industry and their growing business. Principal Mischa Redmond and CFO Shelly Redmond have both agreed to pay cuts for the first quarter of 2011. These cuts will be at least 15% and will also include deferred compensation on all bonuses. When asked about the cuts, Mischa Redmond stated “it is important for our employees to understand that we are behind this company in good times and bad.” Shelly and I agree that the company comes first and if we can help the bottom line by reducing our salary for the short term and it benefits the future growth of Redwoods then it is worth every penny.”