PDC will be paid a royalty on collection for each prescription filled by MESA as well as receiving 500,000 shares of PAWS Series D Convertible Preferred Stock. The parties will begin the process of transferring MESA's license from PDC to PAWS as soon as possible and the transaction is intended to close upon the issuance of a new California pharmacy license or sooner. PDC has the right to appoint three members to the Board of Directors as soon as the new license is issued and the audit of MESA's operations is completed.
Furthermore, the holders of a majority of the Company's Series B Convertible Preferred Stock shares have agreed to vote to reduce the maximum conversion rate in order to offset the new Series D stock, on a fully diluted basis.
Additionally, PAWS intends to spin off its remaining airline related properties, freeing the Company of much of its debt and further intends to settle most of its remaining debt in the very near future.
BE A LEADER, FOLLOW NO-ONE
Market Data 
Markets 
AI
