this is taking forever - from today's Q:
n April 23, 2008, Benacquista, Vibe, Olphie and Price entered into a new letter agreement which provides an extension of time to pay the balance of the purchase price of $425,000 in exchange for a non-refundable deposit of $25,000 toward the purchase price. The extension extends the time period to provide payment until May 7, 2008, provided however, that in the event that the purchase price is not paid by April 29, 2008, the non-refundable deposit will no longer be credited toward the purchase price. Mr. Price and Benacquista also agreed that Benacquista director Robert S. McCoy, Jr. would receive $50,000 worth of Benacquista common shares in the event that the balance of the purchase price is paid by May 7, 2008. These shares are in lieu of the shares Mr. McCoy would have received under the April 4 letter agreement.
On May 12, 2008, Benacquista, Vibe, Olphie and Price entered into a new letter agreement which provides an extension of time to pay the balance of the purchase price of $425,000 in exchange for a non-refundable extension fee of $25,000 which is not credited toward the purchase price. The extension extends the time period to provide payment until May 16, 2008. Mr.
Price and Benacquista also agreed that Vibe Records would receive $25,000 worth of Benacquista common shares in the event that the balance of the purchase price is paid by May 16, 2008. These shares are in lieu of the shares that would have been issued under the April 29, 2008 letter agreement.
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