Greenlite Ventures Inc (GRNL)

[HardMoney84]

Hints at it in 8k as well here is why the merger didn't take place yet!!

In September 2012, Greenlite Ventures Inc. (the “Company”) entered into a revised letter of intent (the “Letter of Intent”) for the acquisition of 66.67% of Advantag AG (“Advantag”), a German based company that is engaged in the business of marketing and trading carbon credits. Closing was subject to, among other things, the Company having cash of not less than $500,000, the Company having no significant liabilities at closing and the principal shareholder of Advantag being satisfied that the market for the Company’s common shares has the strength and liquidity necessary to advance its business (the “Financial Requirements”). The Company has not been able to raise sufficient funds to permit it to meet the Financial Requirements and did not meet the Financial Requirements before the Letter of Intent expired on December 31, 2012. The Company is pursuing other possible business arrangements with Advantag.