No Dividends Or Distributions Have Been Declared By Our Board of Directors And There Can Be No Assurance As To The Amount Or Timing Of Any Such Dividend or Distribution.
CBAI presently estimates it will distribute a portion of the proceeds of the sale of substantially all of its assets to its shareholders in 2019. However, no distribution has been declared by the Board of Directors and the initial distribution amount will be determined by CBAI’s board of directors and will be subject to such factors as taxes payable, indemnification obligations under the Purchase Agreement with FamilyCord, operating expenses and other contingencies and estimates. Additional monies may be distributed over time based on cash available and the release of known and unknown liabilities. Given cash needed for the aforementioned expenses and contingencies, total proceeds paid out to shareholders are expected to be significantly less than the gross purchase price that the Company received under the Purchase Agreement with FamilyCord. Accordingly, there can be no assurance as to the amount or timing of any dividend or distribution.
