CAVU Resources Inc (CAVR)

[dmbao]

Any idea what all of this means? It sounds as if there is a deal to get repaid but they also wrote it off as uncollectable?

The company has renegotiated this transaction with the current balance including
interest and the sale of the Envirotek note as of December 31, 2013 is $3,407,553. The new terms of the note called for
$25,000 to be paid in November the transfer of a 160 acre lease and $100,000 to be paid each month with prepayment
acceleration in the event Energy Revenue America, LLC receives funding in excess of $500,000, additional agreements and
negotiation are in the final stages to bring this transaction back to current status. The company has agreed to the $500,000
reduction, however the $100,000 credit for the Lease in Kansas was reversed due to title issues on the Lease. The company
was notified that the Ayuda Note has been brought current by Envirotek and that payments are scheduled to begin again in
the near future. The company is also obligated to pay a 10% finder’s fee to private parties that introduced the transaction.
The company has not received the payment required to bring this note current. The company has decided to write the value
of this note down to zero and explore collection, the sale and or the repossession of the stock including the assets related to
Envirotek Fuel Systems, Inc., the amount written off as of December 31, 2013 was $3,407,553