Like I told RRM, PLNI acquires you, promises the world, then screws you. You want proof? Here's proof:
September 24, 2002 Laser Engineering received a legal judgement, case No. 01-2209-BKC-RBR-A, against the Company debt owed by the Company to Laser Engineering in the amount of $625,000 During the quarter ended June 30, 2005 the Company entered into a settlement agreement with Laser Engineering whereby the Company recognized an income as a result of forgiveness of debt by Laser Engineering in the amount of $440,000. As of June 30, 2005 and December 31, 2004 the Company was still liable to Laser Engineering in the amount of $185,000 and $625,000, respectfully.
All the above notes payable are all currently due and payable as of March 31, 2005 and December 31, 2004, respectively.
- Jeff |
