DNA Brands Inc (DNAX)

[tw0122]

do have an LOI but it is not with any of the acquisition candidates. DNA has been offered a multimillion dollar cash equivalent financial instrument to sell the DNA product line. That is who the LOI is with. So I haven’t executed it as of yet. I have it in my back pocket. That instrument if I decide to act on it will be used to put assets back on the books and it will also be used to simultaneously wipe out the creditors and when I say wipe out the creditors I mean off the balance sheet of the company. Creditors will receive the instrument as payment for the money owed to them and simultaneously dramatically reduce the debt on the books… Actually DNA will come out ahead and manage to negotiate a sum greater than the debt