Cherubim Interests Inc (CHIT)

[Sprycel]

ROFLMAO, they screwed Chapel too!!!

The Settlement Agreement provides that in no event shall the number of shares of Common Stock issued to Chapel or its designee in connection with the Settlement Agreement, when aggregated with all other shares of Common Stock then beneficially owned by Chapel and its affiliates (as calculated pursuant to Section 13(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the rules and regulations thereunder), result in the beneficial ownership by Chapel and its affiliates (as calculated pursuant to Section 13(d) of the Exchange Act and the rules and regulations thereunder) at any time of more than 4.99% of the Common Stock.

The Company has initially reserved 1,000,000 shares of Common Stock to provide for issuances upon full satisfaction of the Settlement Amount.