Friday, September 18, 2009 10:28:06 AM
On August 5, 2008 the Company executed a promissory note in favor of Akin Gump
Strauss Hauer & Feld LLP (“Akin Gump”). The principal amount on the promissory
note was $536,869.26, which became due and payable on November 1, 2008. The
Company failed to make the payment required by the Promissory Note on this date. The
Company reached a settlement agreement with Akin Gump on September 11, 2009 and
no longer has any obligations related to the promissory note.
Would have been nice if they let their shareholders know what the settlement agreement was, no?
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