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IDS Watcher

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Re: None

Wednesday, 01/31/2007 10:09:30 AM

Wednesday, January 31, 2007 10:09:30 AM

Post# of 23107
I can't believe I have to cut and paste definitions from the dictionary, but this is what escrow means.

es·crow
n. Money, property, a deed, or a bond put into the custody of a third party for delivery to a grantee only after the fulfillment of the conditions specified.

The $300K was placed in escrow as a NON-REFUNDABLE deposit to secure the stock purchase agreement. In the event the stock purchase agreement did not happen, it was to be released to the registrant, which is PGRD.


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