Home > Boards > US OTC > Delisted > Attis Industries Inc. (fka ATIS) (ATIS)

Any of them Accordingly, the Company filed formal notice

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
TMH0312 Member Profile
 
Followed By 0
Posts 260
Boards Moderated 0
Alias Born 06/28/19
160x600 placeholder
TMH0312   Wednesday, 10/06/21 06:33:39 PM
Re: jobynimble post# 1432
Post # of 1454 
Any of them

Accordingly, the Company filed formal notice of default on June 30, 2019, alleging several events of breach, material misrepresentation,
fraudulent inducement, and irreparable harm. The parties subsequently negotiated a settlement agreement calling for
the payment by Attis to the Company of $3,000,000 in cash, the cancellation of the Attis Debenture, and the return of
100% of all right, title and interest in, to and under the equity of FC in exchange for the Company’s agreement to
execute a release of all claims against Attis and its affiliates. However, Attis there again failed to perform as agreed
and, effective February 17, 2021, the Company issued formal notice of termination to Attis, including a demand for
payment of outstanding amounts due under the SPA and related transaction documents, and restitution of all amounts
Attis received in connection with FC and its intellectual property rights. Attis has ignored the Company’s demand and
appears to have discontinued operations. Management is evaluating the Company’s rights and remedies in connection
with all matters involving Attis, and is unable to characterize or evaluate the probability of any outcome at this time.

Public Reply | Private Reply | Keep | Last ReadPost New MsgReplies (1) | Next 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences