Fund.com Inc (FNDM)

[KDAWGFARM]

Not sure if anyone on here saw the update from the annual report Thomas filed with Delaware, the report is not on the website. Here are a few things:

The settlement was paid with cash by AdvisorShares. 1/3 of the payment was paid to the attorneys in the litigation case. That is why our current cash is only $1,663,053.17

The URL purchase agreement was for $1,000,000. A $500,000 payment upon closing. Also, $4,000,000 in preferred equity. (It is footnoted that the agreement was amended and restated, but the cash payment terms remained the same). Basically, the case could be made that the URL is worth $5,500,000 based on what was agreed on to pay. March 16,2018 is the end date for discovery. Thomas expects to move for summary judgement following the close of discovery.

After all is finished Thomas will either distribute cash to Class A shareholders or seek to discontinue the receivership pursuant to 8 Del. C. § 301. (this is the cancellation of liquidating and all assets would be returned back to the corporation, I'm not sure what exactly this means besides we'd have a company with some cash. I'm assuming this is in case we don't receive the money for the URL, if the judge rules in our favor, we could possibly have NOLs that are worth something. Hopefully that does not happen).