Avitar, Inc. (AVTI)

[liable]

Filing for the sale of the foam business:

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6110306

Item 1.01 Entry into a Material Definitive Agreement .

On August 5, 2008, the Company entered into an Asset Purchase Agreement for the sale of assets of its foam business to Carwild Corp. for gross proceeds of $175,000 subject to various conditions including clear title.


Pretty straight forward IMO, but read the whole filing to get the complete picture. All the convertible debt still exists, Gelmon would not be here if it didn't.