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dlewisfl

01/17/10 5:32 PM

#2807 RE: Hardwood #2797

Hardwood, read the 8k again. The compensation for Chariot was:

"PAC has issued ACS a one year term note of $1,009,792, which may be settled in cash or stock, and assumed $990,208 liabilities."

The note "may be settled in cash or stock", so it's conceivable no cash will actually change hands. Debt has been wiped off the books, which is good news. Unfortunately the missed POTENTIAL when they acquired Chariot 6.5 years ago doesn't make the debt recovery all that satisfying for LONGS who bought on that potential.