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Steelman2

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Steelman2

Re: Focus7 post# 40786

Thursday, 12/23/2010 12:31:40 AM

Thursday, December 23, 2010 12:31:40 AM

Post# of 47225
The value of the net assets sold on September 3, 2010 was $2,895,258. The liabilities disposed of in the transaction were $3,455,623. The difference of $3,122,884 was recorded to additional paid in capital due to the primary debt relief in the transaction being debt owed to a related party." Seems to me it is worth the 2.895MIL + the 3.122MIL owed to Mr. Burnham. Was I reading this right?
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