The SCHEDULE 14A INFORMATION statement does NOT state that. Again, its plain legal language states - and I again quote: "At December 31, 2011, we were in default on short term bridge notes totaling $115,000 in principal."
Such a quote, for whatever reason, does NOT update the status of the default reported three months ago. You ASSUME its still accurate. One cannot assume anything in securities and commericial law!
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