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Replies to post #66621 on CBA Florida Inc. (fka CBAI)
locksflooring
08/29/11 5:32 PM
#66623 RE: hmmauto #66621
MinnieM
08/29/11 9:25 PM
#66648 RE: hmmauto #66621
Pursuant to an Order Approving Stipulation for Settlement of Claims between Ironridge Global IV, Ltd. (“IV”) and the issuer on August 17, 2011, in settlement of $260,695.20 accounts payable of the issuer owned by IV, IV is entitled to 100,000 shares of the issuer’s common stock plus that number of shares equal to the claim amount and reasonable attorney fees divided 70% of the volume weighted average price as reported by Bloomberg over a period of time beginning on the date shares are received into IV’s account and ending on the date on which the aggregate trading volume of the issuer’s common stock is equal to $1,042,708.80. Based on the issuer’s $0.08 closing share price on August 26, 2011, that would equate to approximately 4,933,843 shares. At no time may the reporting persons collectively own more than 9.99% of the total number of shares of common stock outstanding. For purposes of calculating the percent of class, the reporting persons have assumed that there were a total of 81,762,984 shares of common stock outstanding immediately prior to the issuance of shares to IV, such that 4,933,843 shares issued to IV would represent approximately 5.7% of the outstanding common stock after such issuance.
Schedule 13-G filed today http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8125201 good luck, michael