lasers,
the 10K info you posted is not updated. Using the latest 10Q has more of an updated summary, see below...
As stated the hearing took place Feb 26, we now await a report.
The second amended complaint has 4 claims,
1) Woodward warrant that survived first report
2) Colby warrant
3) Andwell claim(Bill Caldwell company) Nancy Burrows(Bill's wife/widow)
4) stock sales listed in SEC Complaint/lawsuit
ACT has asked for partial dismissal. ACT wants claims 2, 3 and 4 dismissed. They are not asking for dismissal on Woodward warrant as they tried that the first time around and Judge left it stand.
(from 10Q)
Aronson and Gorton filed motions for leave to file Second Amended Complaints on October 23, 2012 and October 25, 2012. ACT did not oppose the motions. The Second Amended Complaints, deemed filed as of November 9 and 12, 2012, reassert the claim for breach of contract with respect to the Woodward warrant, as well as new breach-of-contract claims related to a warrant allegedly issued to Deron Colby; an alleged extension of the exercise periods for stock warrants issued to Andwell, LLC and Nancy Burrows; and alleged stock sales in 2008 that are the subject of a matter pending in the United States District Court for the Middle District of Florida, S.E.C. v. Lefkowitz. ACT moved to dismiss the Second Amended Complaints on November 30, 2012. The court again referred the motion to dismiss to Magistrate Judge Dein, who heard oral argument on February 26, 2013. The parties are awaiting a report and recommendation on the motion to dismiss.
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