Replies to post #2385 on Wastech fka WTCH

[johnrgr]

Has anyone realy read this ? What is so bad? I still think CVIA messed up and is getting out of the Bright deal.

On August 11, 2003, the Company and Gibson executed an agreement under which Gibson repurchased Stony's. The Company and
Gibson agreed that Gibson would pay the buyback consideration as follows:

o Gibson's obligation to pay the Company $96,250 in cash would be applied against a Company subsidiary's obligation to
Gibson in the amount of $164,735, leaving a balance owing Gibson of $68,485;
o Gibson's obligation to return 20,000,000 shares of Company common stock to the Company would be satisfied by the return
of 17,792,998 shares of common stock to the Company and the cancellation of $68,485 that was owed Gibson by a
subsidiary of the Company.

In addition, the agreement between Gibson and the Company provided that Gibson's employment agreement with the Company would
be terminated. However, Gibson remains a director and chief executive officer of the Company. Finally, because Gibson's
shareholdings are less than 5% of the outstanding shares, the Stockholders' Agreement Concerning Corporate Vision,
Inc. dated March 5, 2002 by and among Gibson, the Company and Global Eco-Logical Services, Inc. automatically terminated
pursuant to Paragraph 2.6(b) thereof.

Settlement of Claims Against Stony's Trucking Co.

On August 11, 2003, the Company entered into a settlement agreement with Stony's and an agreement with Gibson to settle the
Company's claim against Stony's for $432,361.27 in advances made to Stony's. Under the agreements, Gibson agreed to pay the
Company $250,000 from the proceeds of the liquidation of certain receivables of Stony's that Gibson had a prior lien on to
secure advances he had made to Stony's. To satisfy the balance of the advances, Stony's assigned the Company its interest in
a royalty stream payable by Filbin of the Stony's assets from the revenues generated by the assets. The royalty is equal to
2% of revenues generated from the operations of Stony's for the period from February 1, 2004 to January 31, 2006, and is
subject to potentially substantial offsets by Filbin.