Exobox Technologies Corp (EXBX)

[hulk5250]

I thought the amount was stated at 600k instead of the original 1mil. That fact is different, but with the lower amount they were assuming some of EXBX's debt load... Here is that section of the 8k (12/20/10) from the SEC website.

http://www.sec.gov/Archives/edgar/data/1335002/000117152010000793/eps4017.htm

"Most specifically, Burnt Hickory will assume all liabilities covering the security interest securing the technology, issue a note payable to Exobox in the amount of $615,000 with 6% interest rate that will start accruing 24 months after the closing of the transaction. In addition, the Definitive Agreement, states that the company will receive continuing revenue varying from 2% to 3% of net profits of Burnt Hickory once the technology is coded and the initial development cost is recovered."