Last two 8k filings shows update in the recapitalization. And new stores coming in New York City Lenders have agreed to convert approximately 90% or $6.9 million of outstanding loans to common equity at an average price of $.33 per common share.
The Company has completed certain preliminary store-opening steps including architectural plans, equipment specifications, menu and an initial location analysis focused on New York City.
The Company announced today that it entered into a definitive Marketing, Distribution and Licensing Agreement with Solex Holdings, Inc. and affiliates (“Solex”). This agreement culminates the Company’s earlier announced plan to pursue new strategic opportunities. In this process, the Company had met with over 30 different partner prospects ranging from some of the best known food brands and large public companies distributing food products to niche online food merchants.
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