Umami Sustainable Seafood Inc. (UMAM)

[CharlesNet]

In my view this comment in the last press release is extremely important to long shareholders. It basically says that the company will purchase 10 million shares at one dollar each and then cancel the shares. Therefore the total shares outstanding are going to be reduced by approximately 1/6

" Share Purchase Agreement

On June 26, 2013, MotoMax and Baja entered into a purchase agreement whereby Baja acquired 3.0 million restricted Umami shares from MotoMax for $3.0 million. The $3.0 million purchase price is in the form of a secured note. The applicable interest rate is LIBOR plus 400 basis points. Principal and accrued interest are due and payable on March 31, 2014. Umami intends to cancel the shares.

Share Purchase Agreement

On June 26, 2013, Lisbeth and Baja entered into a purchase agreement whereby Baja acquired 7.0 million restricted Umami shares from Lisbeth for $7.0 million. The $7.0 million purchase price is in the form of a secured note. The applicable interest rate is LIBOR plus 400 basis points. Principal and accrued interest are due and payable on March 31, 2014. Umami intends to cancel the shares.
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