WTH? are these 2 Funds connected somehow???, from 10Q, "NOTE 7 – SUBSEQUENT EVENTS
The Company has evaluated all subsequent events and has determined that there were no subsequent events to recognize or disclose in these financial statements other than the following:
On May 9, 2013, the Company entered into an amendment to the Infinicom Sale Agreement (the “Amendment”) pursuant to which Infinicom’s rights to the Infinicom Additional Shares was converted into 138,322 shares of Common Stock, which will be delivered to Infinicom within 30 days of the Amendment.
On May 9, 2013, the Company raised gross proceeds of $134,000 from the sale of 344,210 shares of Common Stock at a price of $0.1946488 per share to each of Hudson Bay Master Fund Ltd. (“Hudson”) and Iroquois Master Fund Ltd. (“Iroquois”). The sale to Hudson and Iroquois was exempt from the registration requirements of the Securities Act of 1933, as amended (the “Act”) pursuant to Sections 4(a)(2) and 4(a)(5) of the Act. Prior to May 9, 2013, each of Hudson and Iroquois acquired 349,348 shares of Common Stock at a purchase price of $68,000, or $0.194648 per share, from the Chapter 7 Trustee of the Estates of Rodman & Renshaw, LLC (“Rodman”), Direct Markets, Inc., and Direct Markets Holdings, Corp. in Chapter 7 bankruptcy proceedings pending in the United States Bankruptcy Court for the Southern District of New York (Cases No. 13-10087, 13-10088 and 13-10089). These shares were all the shares of Common Stock beneficially owned by R&R, an affiliate of Rodman.
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