Tuesday, May 09, 2017 3:48:41 PM
Malone
Sounds like they made the first 2 payments to TKM as stipulated in the judgement. The next 2 payments were not due until the first and second quarter of 2017 so they ARE NOT in breach!!!!!!!! And everyone with half a brain knows ST. George is an arbitration not a lawsuit. And GIGL win win that one!!! IMO
"The Company has recorded the entire $40,000 judgment since the Company did not meet the agreed payment schedule. As of January 1, 2017, the outstanding balance was $30,000."
http://ih.advfn.com/p.php?pid=nmona&article=74346564
Litigation
On April 20, 2016, the Company entered into a stipulated judgment in favor of TKM in the amount of $40,000. Under the stipulated judgment, the Company would only be compelled to pay $20,000 in four equal installments of $5,000, provided they meet the ascribed timely payments as set forth in the stipulated judgment. The Company has recorded the entire $40,000 judgment since the Company did not meet the agreed payment schedule. As of January 1, 2017, the outstanding balance was $30,000. <---------Still OWED as of the End of the 10k period!
St. George Investments, LLC v Giggles N’ Hugs
On March 23, 2017, St. George Investments, LLC ("St. George") served an arbitration demand and summons claiming that the Company had breached its obligations under a convertible note by preventing St. George from converting the remaining balance of the note to common stock. The parties disagree as to the conversion price set in the note agreement due to execution by the parties of different versions of the document. St. George has claimed for additional damages. We believe these claims lack merit and have retained counsel to vigorously defend this action and present cross claims for mistake, rescission, breach of the covenant of good faith and fair dealing and unjust enrichment.
...so...sad...
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