THESE are the same people that run AXIGE which had a HUGE run last week ,, I HOPE we have the same luck here with these 2 at the helm,, I got this off off yahoo,,, good luck to ya,,,On December 1, 2005, in connection with the consummation of the transaction described under Item 2.01 above, Jeffrey W. Flannery, our Chief Executive Officer (and former President), and then controlling stockholder and James E. Nelson, our new President and Chief Operating Officer, entered into a stock purchase agreement whereby Mr. Flannery agreed to sell 480,000 shares of our Series A Preferred Stock held by him to Mr. Nelson for a purchase price of $150,000 in the form of a secured promissory note in the principal amount of $150,000, accruing interest at 8% and payable in full on or before November 30, 2007. The note is secured by a Pledge Agreement, whereby Mr. Nelson pledged, and granted a security interest in and to, the Series A Preferred Stock purchased from Mr. Flannery until such time as the payments due under the note have been paid in full. Mr. Flannery continues to hold 480,000 shares of Series A Preferred Stock.
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