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Tuesday, August 05, 2008 2:31:01 PM
.... the "Budget"
Is that an item which might not be made public , or did they leave it out inadvertently?
"The Company will use the proceeds from the sale of the Convertible Debentures in accordance with the terms of the budget attached hereto as Exhibit D (the "Budget") and shall not deviate from any line item of the Budget by more than ten percent without the written consent of the Buyer. The Company represents that the proceeds of the sale of the Convertible Debentures will provide sufficient capital for the Company to cover its cash burn rate and fully fund its current business plan until at least September 30, 2009. Within 90 days of the date hereof the Company and the Buyer shall work towards preparing an agreed upon reduced Budget that will fully fund the Company through December 31, 2009."
http://www.sec.gov/Archives/edgar/data/1022701/000114420408043681/v121767_ex10-1.htm
Yorkville / Cornell Tracking Board #board-9964
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