China Expert Technology, Inc. (fka CXTI)

[abh3vt]

Still no word from the company on whether they closed the deal or not.....

"Pursuant to the Agreement, the Purchasers agreed to purchase up to $6,000,000 in face amount of 7% Secured Convertible Debentures (the “Debentures”) from the company. The closing date (the “Closing”) under the Agreement will be on or before October 31, 2005. "

"If the Closing does not occur on or prior to October 31, 2005, the Company is obligated to pay Platinum a break-up fee of $25,000 in cash."

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Wouldn't it be great if the company announced that it canceled this deal and had been able to secure better terms from another group of investors? I think the chances of that happening are slim, but this story will get very interesting if we've heard nothing from the company before earnings.