this thing is never ending:
On May 16, 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 26, 2008. Mr. Price and Benacquista also agreed that Vibe Records would receive $50,000 worth of Benacquista common shares in the event that the balance of the purchase price is paid by May 26, 2008. These shares are in lieu of the shares that would have been issued under the May 12, 2008 letter agreement.