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carjac

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carjac

Re: None

Monday, 08/09/2010 4:06:51 PM

Monday, August 09, 2010 4:06:51 PM

Post# of 58002
Actually the excess of liabilities over assets is $2,521,069. If we take away the contingent liablility for patent purchase, $857,388, the related party debt, $156,221 and the debt to former service provider/shareholder, $289,500, we are left with a negative position of $1,217,960. Not that extraordinary for a small company getting ready to launch new products IMO.
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