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Alias Born | 09/22/2006 |
Friday, December 21, 2007 9:39:44 AM
Currently,
our Consolidated Financial Statements includes Stronghold Technologies, Inc.
a New Jersey corporation and a wholly owned subsidiary of Dealer Advance, Inc.,
which subsidiary is maintained on a completely segregated basis from the
Company, Dealer Advance, Inc. The Company filed for Chapter 7 bankruptcy of
this subsidiary on January 25, 2007.
The Chapter 7 bankruptcy has yet to be resolved
or closed as of the date of this filing, but it is anticipated to be concluded
soon. The estimated remaining Stronghold Technologies assets available to
liquidate in order to offset liabilities segregated and owed by the subsidiary
entity and subject to the bankruptcy that are a part of the consolidated
financial statements do not represent a material amount.
The more you know, the less you don't know.
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