ANTs SOFTWARE.COM (ANTS) Message Board

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Microcap & Penny Stocks : ANTs SOFTWARE.COM (ANTS)

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To: Crandell Addington who wrote (392)	7/31/2000 4:50:57 PM
From: Sir Auric Goldfinger	of 607

"7. LEGAL MATTERS A law firm has filed a law suit against the Company in California Superior Court based on a contract allegedly entered into between the firm and the Company in June 1988. The firm claims that the terms of the alleged contract entitle it to a 20% bonus premium of legal fees billed to the Company between 1993 and 1996 and that such bonus is payable in Company stock. The firm demands issuance of 436,864 shares of Company stock to the firm and approximately $220,000 in satisfaction of the Company's alleged obligation. The Company believes the firm's claim is without merit. The Company has made a full provision in the financial statements for the legal fees sought by the firm, but the Company has made no provision for the shares of common stock sought by the firm. If the Company is found ultimately liable in this matter, it would be obligated to record a charge to earnings of approximately $7.5 million.

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