You really think Egan sold most of a clean shell (worth $625K at the time) with big, probably useable NOL's for $25K with no conditions other than a wish and a prayer that his shares might be worth something someday?
I think Egan's a little more astute than that, and I don't believe that they have to reveal any details of the "Purchase Agreement" in their filings apart from the # of shares sold and the price.
Probably Egan is not going to get his shell back, but I am speculating that there were some conditions to the Purchase Agreement beyond the lousy $25K purchase price, and these might include time limits, limitiations on the selling of his shares, etc...
News 
Market Data 
Discover 
