And more here:
In August 2006, the Company signed an agreement with Warner Music Inc (“Warner”) whereby ATV has licensed its music publishing properties for listening and download on the Company’s Qtrax legal P2P music network. Under the terms of the agreement, the Company is required to make a non-refundable payment of $100,000 and two sets of non-refundable payments, recoupable prepayments to Warner in the amount of $50,000 and $75,000 for a total of $225,000. These payments shall be recoupable against payments due under various subscription agreements. Under the terms of the agreement, the payments are due as follows: (a) upon execution of the agreement, the Company shall pay $100,000, with $50,000 due in 3 months of the signing date with remaining payments of $25,000 each to be paid in November and December 2006 and January 2007. As of December 31, 2006, the Company has paid Warner $33,333 under the agreement, and was in default under the terms of the agreement. In February 2007, the Company paid $33,333.
On April 17, 2007, the above payment terms were amended as follows: $85,000 payable upon signing of the agreement; $23,333 on May 15, 2007; $25,000 on June 15, 2007; and the final payment on June 17, 2007.
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So, this WMG spokesman claims all this never happened
"You can't be a real country unless you have a beer and an airline - it helps if you have some kind of a football team, or some nuclear weapons, but at the very least you need a beer". F Zappa
