![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Friday, March 24, 2023 7:27:28 PM
The Lawsuit relates to debts owed by the Company, totaling $16,000,000, for the acquisition of 365,000 square foot property.
The Parties entered into an agreement (the “Settlement Agreement”) in which the Company and Taurean Group, LLC agreed to seek a settlement agreement via Section 3(a)(10) settlement resolution in the principal amount of ($18,000,000) eighteen million dollars (the “Settlement Agreement”).
IFAN Financial, Inc’s board of directors has considered the Settlement Agreement and has resolved that its terms and conditions are fair to, and in the best interests of, IFAN and its stockholders. The terms and conditions of the Settlement Agreement were, are, and will be fair to and in the best interests of all of the parties.
Pursuant to the Settlement Agreement, the parties filed a Motion for Fairness Determination and Order Approving Settlement and Dismissing Case. It was filed and approved.
?
In ratifying the Settlement Agreement, the Company, upon the Court’s order, agrees to issue to Taurean shares of the Company's common stock until IFAN’s total gross sales of such common stock equal $18,000,000. In full settlement of the Lawsuit and that when issued hereto, the settlement shares shall be freely tradable without legend or restriction pursuant to Section 3(a)(10) of the Securities Act of 1933 and shall be validly issued, fully paid and non-assessable shares.
On January 21, 2022, the court approved the transaction.
Effective: January 21, 2022
/s/Larry Williams
Chairman Chief Executive Officer and President
HealthLynked Corp. Announces Second Quarter and First Half 2024 Results: Continued Cost Reductions Set the Stage for Strategic Shift to App-Based Technology Services • HLYK • Aug 16, 2024 8:00 AM
PickleJar Announces Official Name Change and New Ticker Symbol • NREG • Aug 15, 2024 2:23 PM
VAYK's Q2 Profit Added to Accumulated Net Profit of Over $2.2 Million In 18 Months • VAYK • Aug 15, 2024 9:07 AM
Swifty Global Reports Strong Q2 Performance and Prepares for Major Exchange Uplisting • DRCR • Aug 15, 2024 9:04 AM
Mayback's Global Entertainment Signs Global Distribution Agreement with Children's Media Studio • AHRO • Aug 15, 2024 8:45 AM
POET Technologies Reports Second Quarter 2024 Financial Results • POET • Aug 15, 2024 8:04 AM