THPHF - Thinkpath, Inc. (THPHF)

[niz]

10k is out... Amazing the O/S is still 4.7 million. Also they made a letter of intent with a company but never mentioned it in a PR:

RECENT EVENTS

On January 3, 2006, the Company executed a Letter of Intent to acquire an
engineering services firm located in New Jersey. The purchase price will
calculated at five times audited 2005 EBIT of the Seller and will be payable as
follows: thirty percent in cash; twenty per cent in a two year subordinated note
bearing annual interest at US prime, payable quarterly and guaranteed by the
Company; twenty-five per cent in the Company's common shares; and, twenty-five
per cent in the Company's preferred shares which will be convertible into common
shares. The acquisition is subject to due diligence and the audit of the
Seller's 2005 and 2004 financial statements which are currently being performed.

On January 26, 2006, we executed an Overadvance Side Letter with Laurus Master
Fund, Inc., whereby Laurus increased the overadvance amount on the revolving
note to $1,200,000 ("Second Overadvance"). The second overadvance bears interest
at the prime rate as published by the Wall Street Journal plus 2%. The second
overadvance expires on July 27, 2006. In the event that the overadvance is not
repaid in full by this date, the interest rate will be increased by an
additional 1% per month. In consideration of the Second Overadvance, we issued
500,000 additional common stock purchase warrants with an exercise price of
$0.01 per share which expire on January 26, 2012.