OK link didn't work but here is what it said (from Edgar Online):
Item 2.04 Triggering Events That Accelerate or Increase a Direct Financial Obligation.
Diatect has been aggressively seeking additional working capital throughout the recent economic downturn in order to fund its operations. As a result of these efforts, the company identified a potential investor group, negotiated a major financing arrangement, and entered into signed contracts In March 2010. Unfortunately, the investor group has yet to fulfill its funding obligation. Due to this delay in funding and the lack of operating revenue, Diatect has not been in the position to remain current with its debt obligations and as a result, the company has received notification on June 3, 2010 of foreclosure from its secured lender.
If Diatect does not make a payment of $776,431.83 to the secured creditor within the next three weeks, the creditor will take possession of all the assets of the company for liquidation. Every effort is now being made to convince the investor group to perform on its funding obligation and thus prevent the foreclosure. If this financing transaction does not close by the end of June, the foreclosure will take place and Diatect will be forced to cease all operations.
AI
