SaviCorp (fka SVMI)

[ShaqsBootyCall]

From EDGAR:

On July 10, 2006, Savi Media Group, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with Cornell Capital Partners L.P. (“Cornell”) providing for the sale by the Company to Cornell of its 10% secured convertible debentures in the aggregate principal amount of $2,970,000 (the “Debentures”) of which $1,670,000 was advanced immediately. The second installment of $800,000 will be advanced two business days prior to the filing by the Company with the Securities and Exchange Commission (the “Commission”) of the Registration Statement (as defined below). The last installment of $500,000 will be advanced two business days prior to the Registration Statement being declared effective by the Commission.


In connection with the Purchase Agreement, we agreed to issue Cornell warrants to purchase an aggregate 2,900,000,000 shares of Common Stock of the Company (the “Common Stock”), exercisable for a period of five years as follows (collectively, the “Warrants”):


Number of Warrants Exercise Price

1,000,000,000 $ 0.003
1,000,000,000 $ 0.006
300,000,000 $ 0.01
. . .

Does anyone have the full Edgar release?