TheDirectory.com Inc (SEEK)

[76usmc]

SG does not own BusinessList.com

Taken straight from the Quarterly Report published on July 3rd, 2013.

In November of 2011 we acquired certain assets of BusinessList.com from Gus Thomas
Skarlis Jr. for a total of $150,000 in cash and non-convertible notes. In July of 2012, after
making payments of approximately $78,500 in cash and being current on our note with the
seller, the seller refused to provided services per our contract and breached the agreement
and took control of the website. After numerous attempts to regain control of the site we
decided to file an arbitration action against the seller pursuant to our agreement. We filed
documents in January of 2013. In May of 2013 an arbitration hearing was held with Ms.
Julee L. Milham as the arbitrator. A conflict had been identified between Mr. Skarlis’ lawyer
and Ms. Milham prior to the hearing. After the hearing Ms. Milham wrote in her ruling that
she agreed that we had “established that the unresolved dispute between the parties is a
breach under the contract and its exhibit A” yet she awarded us no damages. It was our and
our attorney’s opinion based on the bizarre outcome that the previous relationship
apparently had an impact on the decision Ms. Milham rendered. We appealed the ruling
which was denied and the matter is now settled. With are removing all arbitration language
from our agreements going forward as the process seemed incestuous and without reason.


Can one of the Mods please take down all the BusinessList.com info from the SEEK page on iHub?