Replies to post #57107 on TheDirectory.com Inc (SEEK)

[Atlanta1]

This is the more disappointing item to me:

Target Acquisition Term Sheet
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In March of 2013 we entered into an agreement to acquire a network of local search destinations from a privately held Company for a total of $1.9 Million in cash. As of July 3, 2013 we have been unable to raise the funds required to close this transaction. Our term sheet expired in May of 2013. We continue to pursue this acquisition target and are taking actions relating to our reporting status to increase our chances to raise the funds required to close this transaction. As of July 3rd 2013 we have no formal agreement with the seller.