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Post# of 222433
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petermic

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petermic

Re: None

Friday, 03/08/2013 3:17:55 PM

Friday, March 08, 2013 3:17:55 PM

Post# of 222433
Is anyone here willing to help me understand how this works?

http://www.ironridgeglobal.com/life-program/

They acquired and forgave $1 million of JAMN debt today in exchange for 9 million common.

Here's the part I don't understand:

We will pay a company’s creditors in cash, in exchange for an assignment of their accounts, and then agree with the Company to satisfy its payables for common stock. No registration statement is required, and there are no registration rights.
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