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Saturday, June 12, 2010 6:10:08 PM
First, it will be found by the judge that paul and sam have a valid and an enforceable contract. End of Story
Second, no matter what sam has decided to entertain after he signed this contract is going to be of no affect. This contract ties him to XMDC and if a third party wants in, they must now buy out pauls interest to go into business w/ sam. If paul wins the case and he wants the contract to be enforced, the court will be more than happy to do it. In my oipinion that's how it is going to go down.
Now if GE or Toshiba wants this device and they offer paul a few bucks a share, after the lawsuit win, paul would be free to sell out his interest and that would include us shareholders. We all win including sam, since he would still be holding his shares of XMDC.
I seriously doubt that the court has any right to strip sam of his shares. However, he may be liable for damages here and if he has no money, then he will be forced to repay paul with some of his stock. Who knows, but it's going to get real interesting soon.
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