Jammin Java Corp (JAMN)

[Reacher3]

As per the Q1 report, JAMN and Whittle came to a settlement of $80,000. Monthly payments of $10,000 began in April. That means that there is only $50,000 left to be paid off in 5 months. This also takes away from CASH and is part of the reason that +$400,000 in cash back at the annual report dwindled down to $70,000. Along with paying employees and its newest marketing and advertising strategies for the recyclable RealCup.

"Pursuant to the terms of the Settlement, the Company agreed to pay Mr. Whittle $80,000 which was accrued as of January 31, 2015 (to be paid in equal payments of $10,000 per month beginning on April 1, 2015), the Company agreed to withdraw from a joinder in connection with the Federal Action pending between the parties (and certain other parties) as described below, the parties provided each other mutual releases and the parties agreed to mutually dismiss, with prejudice, their claims."