InvestorsHub Logo
icon url

janice shell

05/03/14 8:16 PM

#66664 RE: CGardener #66662

Somehow that doesn't surprise me. There seems almost always to be a way of getting out of just about any contract.
icon url

integral

05/03/14 8:43 PM

#66670 RE: CGardener #66662

Shareholders forget to read this part of the "Engagement Letter" dated July 15, 2013 by and between the registrant and Wellington:

Due Diligence. The role of Wellington as placement agent and financial advisor to the Company is subject to and contingent upon the satisfactory completion of a due diligence review of, among other things, the Company’s assets, business, future prospects and current and projected financial condition. If at the completion of its due diligence review Wellington is not satisfied with the results of its due diligence, this Engagement Agreement shall be immediately terminated by Wellington.



I did not see any additional exhibits to the recently filed 10K from Wellington if the aforementioned contingency has been met.
icon url

236T568

05/03/14 10:14 PM

#66678 RE: CGardener #66662

you might remember the "firm commitment" letters that started the whole thing - those from Drexel Burnham in the '80's to fund the big LBO craze. Difference is that Drexel pulled through on those commitments..