Graffiti Ent. (fka GRAFF)

[Johnny4profits]

NOW SOMETHING FACTUAL SURFACES! SAY NEWS!
We'd heard about this issue, but never saw formal documentation
to the best of my recollection. Interesting:
http://www.graffitientertainment.com/~private/SPDC/1-main.pdf

I strongly recommend that any investors in SDVI and those holding GRAFFITI shares, dividend or swap purchases, read this disclosure before further berating company management and the company. I think that these disclosures answer much of what has been truly missing as an explanation. I'm not suggesting that this is the whole story and we certainly will not know the outcome until a jury verdict is rendered, given the trial by jury request is granted. I'd always hoped that if I stayed around long enough I might just begin to learn the truth, which no amount of harangueing brought to light. From this hapless perspective, having fallen under the spell of Ken Hurley and the rabbits, we have been abandoned at all outward and published appearances. Maybe something will change, maybe not. Nevertheless, this sheds a somewhat different light on the story, the orchestration of information regarding SDVI and GRAFF and the folly we have all fallen on.

PLEASE READ THE DOCUMENT LINKED FOR YOURSELF.

MY NOTES

ORIGINAL BILLINGS TO NAVARRE: It looks as though they did pay all but a $100k, though paid it late and made it impossible for Graffiti to meet their timely payables commitments thus forcing SDVI into the situation we as investors have found it in.

31. On July 11, 2011, Navarre received Graffiti invoice no. 32373 for $584,755.20 for products delivered by Graffiti. Payment was due to Graffiti no later than September 12, 2011.

32. On July 25, 2011, Graffiti delivered invoice No. 32374 to Navarre, for an amount of $146,549.76. Payment, pursuant to the Distribution Agreement payment was due to Graffiti no later than September 23, 2011.

CLAIMS FOR MONIES YET OWED:
45. Defendants continue to owe Plaintiff monies due under the Distribution Agreement, in an amount to be proven at trial, but not less than $100,000.

WELL, THIS SHEDS SOME LIGHT:
56. As a further proximate cause of the breach of the Agreement by Navarre, Graffiti was prohibited from obtaining funding for the company, causing it to lose the anticipated public sale of a portion of stock in the company, valued at almost $50 million.

AND ABOUT THE FRANKFURT GRAFF FART:
58. With the deep financial problem caused by Navarre’s breach, and the threatened litigation from a number of sources for payments that had been earmarked from Navarre’s anticipated payments, Graffiti was prevented from meeting the requirements to
have a valuable public issuance of stock on a public market, the
Frankfurt Exchange.

YOU HAVE TO WONDER WHY NAVARRE WOULD DO SUCH A THING:
60. The intentional acts of Navarre caused Graffiti tens of millions of dollars in damages and such damages are attributable to Navarre’s breach of its Distribution Agreement with Graffiti.


WHAT WAS NAVARRE'S MOTIVE?

Looks like Graffiti is suing Navarre and Speed Commerce for multi-millions.

Source: www.mnd.uscourts.gov/ncs/open_cases_report.html

03/18/2014 03/18/2014 09:00:01 14cv752 Graffiti Entertainment, Inc. v. Navarre Corporation et al Type: Contract - Other ADM FLN

copy of complaint:

http://www.graffitientertainment.com/~private/SPDC/1-main.pdf

.