I don’t think you or others realize what this paragraph means.
“Due to the fact that Paul Rosenbaum, Jeffrey Beaty and Art Wilmes have separately decided to undertake to nominate a slate of directors for election at the Annual Meeting, the Reporting Persons have terminated their agreement as to the purposes stated in the Schedule 13D. As a result, the Reporting Persons are not acting in concert for 13D purposes and, therefore, are no longer part of a group. Accordingly, this Amendment No. 3 constitutes an exit filing for all of the Reporting Persons.”
The slate of directors has been nominated for election at the annual meeting following settlement of the lawsuit yesterday. The 13d is no longer needed since this occurred and that’s what this paragraph is outlining (exit filing of the reporting persons of the 13d). The vote appears to be moving forward as long as the court clears it on October 6th, which may not even be needed if the parties settled this lawsuit.
Bottom line: CYDY knew from the beginning that they couldn’t stop a vote. They attempted to slow it by checking how deep the pockets of the 13d were (by filing a lawsuit) and the 13d’s pockets were deep enough to call CYDY’s bluff. CYDY appears to have offered settlement terms and the 13d agreed. The vote will likely take place and will know soon enough who controls the company.
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