out of that amount only $50,000.00 was paid
50k? Man, Panamersa got screwed. Seriously though, as I understood it, the initial agreement called for payments to DeSimplex of $10,000 per month beginning in May while they were getting this thing started up. Hmm...Let's see....May, June, July, August, September. That's 5 months. $10,000 x 5 months = $50,000.
During all that time, it's obvious that they never got the software anywhere near up to par. I don't blame Panamersa a bit for not moving ahead with the rest of the acquisition.