Tuesday, February 28, 2017 10:43:04 AM
WHEREAS, on or about October 26, 2015, the ASI Litigation was settled and an agreement entitled Confidential Settlement
Agreement and So-Ordered Stipulation (“Settlement Agreement”) was entered into by and among the Corporation and ASI, Noah
Hamman, and Wilson Lane Group, LLC, a Delaware limited liability company. Under the Settlement Agreement, ASI agreed to pay
the Corporation: (i) $700,000 on or before March 10, 2016; and (ii) at ASI’s election, and in its sole discretion, either (x) $3,600,000 on
or before March 10, 2016; or (y) $3,800,000 in accordance with the installment schedule set forth in Section 3.10 of the Settlement
Agreement plus simple interest on the outstanding balance at a rate of 6% per annum, all of which is more particularly described in the
Settlement Agreement.
Fund.com had already received 1.3 million with the first payment, so if we remove the 1.3 from the 3.8 that gives us 2.5 million in payments still due that is accruing interest at 6%.
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