"In June 2013, the Company received $50,000 cash in advance of a bridge financing arrangement intended to provide the Company financing to execute a business combination transaction. The financing arrangement anticipates that the Company will enter into a merger agreement and the financing terms are expected to include contingent conversion features, as well as detachable warrants. However, terms of the financing arrangement have not been finalized and as of the date of this filing, not executed definitive agreement is in place for either a merger or financing arrangement."
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