On December 18, 2007, KnowFat entered into a merger agreement and commenced business operations as a publicly traded company under the name UFood Restaurant Group, Inc ("UFood"). Due to the conversion of shares upon the merger, the number of shares of UFood common stock that Ventures was granted increased to 1,371,157.
As a result of the Company's settlement with Z-Trim Holdings, Inc, the Company was granted 3 million shares of Z-Trim Holding's unrestricted common stock on August 29, 2008. The investment in common stock of Z-Trim Holdings, Inc. is accounted for under FASB 115, and classified as a trading security due to management’s intent to trade the investment in the near term. The Company has recorded an unrealized holding loss of $150,000 through September 30, 2008.
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