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Sparqy_01

05/06/05 11:46 AM

#229 RE: Ubertino #222

Clarification needed.
From the 8k:
..for a period commencing May 2, 2006 through June 2, 2006, Dan Nelson shall have the option (the "Option") to purchase Airbee Automotive Group, Inc. from the Company by tendering the Purchase Price to the Company.

Question:

Is the Purchase Price different than the Merger Consideration?
If it is, then the purchase price will be an additional 5.75 mil. No?

Further:

..the Company[Airbee!] shall be permitted to purchase Airbee Automotive Group, Inc. from Mr. Nelson for $5,750,000 (115% of the Merger Consideration)

So:

If Airbee Automotive is currently a wholly owned subsidiary, what does that excerpt mean in relation to the first excerpt? Do they get to buy it from themselves?

Who can buy what from who(m)?