East Morgan Holdings Inc (EMHI)

[LexingtonVIII]

From that agreement link can be read :

Failure to make the initial $5 million in payments referenced above will result in a penalty of 5%of the payment amount due on the $5 million balance each 30 days such payment is delinquent. In the event the entire principal amount due including all accrued penalties are not paid within an additional 180 days, all ownership rights shall be forfeited all all monies paid shall remain the property of Solucorp free on any lien or encumbrance.

Since they are now well passed that period, then I would assume that the intellectual property was never settled for the asking price stated and that the 180 day period being passed then the intellectual property remains to Solucorp.

That's how I read it.

Thoughts?


OOOPs: EDIT : just noticed that ripnog had posted the same type of comment. Sorry.