CarbonMeta Technologies Inc (COWI)

[Rob Mon]

Hummmm, They have 26 days to come up with $350.000 This should be intresting.


On July 24, 2009, the Company entered into a Forbearance and Settlement Agreement (the “Agreement”) with ThreeAM, SPC Ltd. (“ThreeAM”), the current holder of the convertible debentures described in Note 4. The Agreement calls for the Company to make a lump sum payment of $350,000 in cash to ThreeAM by no later than September 15, 2009. This payment by the Company will fully and completely satisfy the Company’s obligations under its convertible debt agreements.
There is no guarantee that the Company will be able to raise the needed funds to pay ThreeAM.