Continental Resources Group, Inc.(fka CRGC)

[gulf shores man]

From the 10Q page 16, some have wondered how Pershing was going to deal with the 1% penalty for not getting the deal completed in July. Now we know.

On August 15, 2012, the Company entered into an Amendment No. 1 to Asset Purchase Agreement with Pershing and Acquisition Sub whereby the parties agreed to amend the Asset Purchase Agreement dated as of July 22, 2011, to remove the liquidated damages provision associated with the registration rights obligations by Pershing