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Libra59

07/21/08 9:03 PM

#71868 RE: cc2cr #71865

I believe the promissory note and dividend are directly related to the convertible preferred shares that are entitled a dividend from net profits that can be paid in cash or in additional preferred shares.

See page 4.

http://www.sunbiz.org/pdf/00058704.pdf
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Frogg

07/22/08 4:03 AM

#71905 RE: cc2cr #71865

Yeah, and where did they get the 1.3 million dollars cash to pay that dividend?