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Re: MLR_Lite post# 122965

Saturday, 02/12/2011 2:46:47 PM

Saturday, February 12, 2011 2:46:47 PM

Post# of 213372
The APA states that Xtend shall have a reserve of 51,928,440 shares in the Treasury for purpose of raising capital. See Ex.A, Section 1.4. At the Mediation, Mr. Lee learned for the first time that Messrs. Lisenby and Friedman sold nearly all of that stock (over 48 million shares) for $430,000, but as of the date of the Mediation, had $0.00 in the Company's bank account. Messrs. Lisenby and Friedman have never disclosed how they spent the $430,000.