Green Globe International Inc (GGII)

[Lex_Luthor]

I am sure Peacock will try and make a similar arraingment with Sequoia as he did with GGI.

It is already structured:

On March 2, 2007, the Company entered into a Settlement Agreement with Sequoia International, Inc., which had purchased the note payable from Elleipsis, Inc. on March 1, 2007. Under the terms of the Elleipsis note payable, the Company was required to pay remaining principal of $190,000 plus accrued interest on March 1, 2007 to satisfy the note. The Company defaulted on this payment and Sequoia filed an action against the Company in the 12th Judicial Circuit Court. The settlement agreement provided for the Company to issue a total of 934,000,000 shares of common stock for full satisfaction and release of the obligation. The Company and Sequoia agreed that the shares would be issued into an escrow account to prevent their immediate resale into the market. Under the terms of the escrow, Sequoia may not obtain any shares from escrow is the release of such escrow shares would result in Sequoia becoming the beneficial owner of more than 9.9% of the Company’s common stock. Further, all shares is escrow are voted by the Company’s chairman of the Board of Directors.

This is almost identical to FCCN except 9.9 vs 4.9.

However, they all know that the support on the bid is not the same as FCCN, so different situation for them..