1812 Brewing Company Inc (KEGS)

[bornlong]

Agreed. The Merger Agreement included in the 8k states:

"Upon the execution of the this Agreement, SVCC shall issue a press release, after approval thereof by WiseBuys, and file a Current Report on Form 8-K reporting the execution of the Agreement."

The Agreement was executed 10/23 and the 8-K was released, we should anticipate a PR shortly.

Also, the closing of Hackets is anticipated on or before 11/30/07. The agreement will be in default if not done before 1/1/2008.

Hackets will cause the retail operations of SWVC to be cash flow positive without cashing in their "marketable securities". This is the reason the earlier PR reported WiseBuy's "Comprehensive Net Income" and not simply "NI". This was an early warning that WiseBuys wasn't as profitable as many thought.

The terms of the Hackets agreement also indicated that the availability of funds to consumate the transaction must be provided by Tom by Sept 30th. Therefore we should not have any further changes in capital structure from that in the 8-k (except the current O/S descrepancy). However, the agreement also calls for an option pool for the Sellers (Hacketts) in the amount of 5% of the O/S of SWVC.

Interestingly enoungh if the Hacketts exercised these options immediately it would almost repay the $1.5M needed at closing (depending on the O/S and the share price).


GLTA