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Wednesday, July 10, 2013 3:36:08 PM
Update of the Transaction:
The parties have agreed to extend a certain dates in the Letter Agreement, including the date to close a private placement (the “Bridge Raise”) of the Issuer’s pre-consolidated shares for net proceeds of a minimum amount of $150,000 (the “Minimum Amount”) and of a maximum amount of $300,000 at a price of $0.025 per share. The Issuer may close the Bridge Raise in multiple tranches provided that the first tranche is for at least the Minimum Amount. The date to complete the Bridge Raise has been extended to June 30, 2013.
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