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Friday, July 19, 2013 1:26:28 PM
On July 19, 2013, the Company terminated its Consulting Agreement with Sage Marketing Advisors and the Managing Partner, Jeffrey R. Chicola. The Consulting Agreement dated February 26, 2013, and executed by both parties on March 3, 2013 included the issuance of 30,000,000 common shares as pre-payment for future services to be rendered. On July 17, 2013, the Company received notice from Mr. Chicola, Managing Partner of Sage Marketing Advisors, that he was unsuccessful with depositing the shares with any of his brokers. Due to this matter Sage Marketing Advisors was unable to perform any services under the terms and conditions set forth within the Agreement.
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