Thanks for pointing that out! This is great news Malc! :)
Yes as you will see that $600k plus law suit you've been tooting about. Has been settled for HALF of the amount at $300k for 150 million shares. Meaning they need a minimum of 0.002 pps to equal that settlement of $300k. Since the original amount owed was for $600k plus, they need the pps much higher re coop those loses!
With the settlement being much less than the amount owed from the liability, the investing institution must have full faith in the reverse merger with UMS Mobile Solutions.
This is going to be HUGE!!
Awesome, nice find Malc! :)
No more lawsuits to toot about, huh? ;)
On March 16, 2016, the Company entered into a settlement agreement with the Dutchess Opportunity II Fund, LLC whereby the fund received a warrant to purchase 150,000,000 shares to common stock at $0.0001 per share in exchange for forgiving all principal, interest and fees of the $300,000 note. The Company valued the settlement and accrued $255,000 as of August 31, 2015 against the note payable for a total liability of $615,385.
This is great news!!
