Plano's Palace

[SilentSniper]

Bad news for PSPW:

Termination Agreement with CR&P Holding


The Company and CR & Partners Holding (“CRP”) entered into a Termination Agreement, dated August 10, 2011 (the “Termination Agreement”), wherein they mutually agreed to terminate that certain Financing and Security Agreement, entered into as of March 10, 2011 (the “Financing and Security Agreement”). Under the Termination Agreement, the Company released CRP, and CRP released the Company, from their respective rights and obligations to the other, in connection with or related to the Financing and Security Agreement.


The above description of the Termination Agreement does not purport to be complete and is qualified in its entirety by Exhibit 10.34 to this Current Report on Form 8-K, and is incorporated herein by reference.

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8102994