How you can read the filing from yesterday and think that it means the deal was completed is beyond me. The $300,000 was released from the escrow to Proguard because the option term expired.
"On July 5, 2006 holders of eighty-seven (87%) percent of the Registrant's issued and outstanding Common Stock collectively granted an option to Worldwide Security Acquisitions, LLC, to purchase a minimum of Two Million (2,000,000) shares and a maximum of Two Million Three Hundred and Fifty (2,350,000) shares of the issued and outstanding restricted stock of the Registrant at an exercise price of One ($1.00) Dollar per share. The option transaction was reported as Item 8.01 Other Events, in the Registrant?s Current Report on Form 8-K dated July 5, 2006 incorporated herein by reference.
On October 27, 2006, the parties to the option transaction agreed to amend the operative terms of the arrangement, extending the term for exercise of the option granted to 5:00 P.M., EST on January 29, 2007, and increasing the Optionee?s nonrefundable deposit against exercise of the option from Twenty Five Thousand ($25,000.00) Dollars to Three Hundred Thousand ($300,000.00) Dollars. On October 25, 2006, the Optionee deposited the additional sum of Two Hundred Twenty Five Thousand ($225,000.00) Dollars in the escrow originally established on July 21, 2006 bringing the total, nonrefundable deposit in the transaction to Three Hundred Thousand ($300,000.00) Dollars. All other terms of the option transaction were unchanged."
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