Replies to post #1483 on SoOum Corp. (fka SOUM)

[zomniac]

I was being facetious, sorry.
The way I understand it:
The "asset" is a loan receivable from the CEO that was used to buy shares.

NOTE RECEIVABLE -RELATED PARTY



On August 14, 2009, the Company closed a Stock Purchase/Merger Agreement with Swordfish Financial, Inc., the Texas corporation (which is controlled by the Company’s Chairman of the Board, President, Chief Executive Officer and majority shareholder) pursuant to which the Company sold an aggregate of 10,987,417 shares of its common stock in exchange for a $3,500,000 promissory note, payable in two installments of $1,750,000 each with the first installment being forty-five (45) days from the date of the note and the second installment being one-hundred twenty (120) days from the date of the note. The note bears interest at the rate of 5% per annum the note and the related accrued interest at September 30, 2011 was $371,875. The Company expects to collect the balance of the note and accrued interest from the Texas corporation as recoveries are made.

http://sec.gov/cgi-bin/viewer?action=view&cik=78311&accession_number=0001010549-11-001303&xbrl_type=v

fa·ce·tious/f?'seSH?s/
Adjective:
Treating serious issues with deliberately inappropriate humor; flippant.
Synonyms:
jocose - humorous - jocular - waggish - comic - funny