The deal fell through and they are trying to mask it with this, Cloud Channel Limited (CCL)? NMTV was the main part of the deal. It was what all the pr's have been about and they say this now?:
ANHL/NMTV were to deliver an unencumbered corporate vehicle in NMTV subject to due diligence undertaken prior to the close. For the final time, ANHL/NMTV defaulted. The only prudent action to take was to rescind the Share Exchange Agreement signed on March 20, 2007 with ANHL, NMTV and certain outside shareholders of NMTV and filed as an 8-K at that time. The rescinding document and the new Share Exchange Agreement with CCL have been filed as an 8-K with the SEC. In retrospect, I wish we had the foresight to take this action earlier when ANHL failed to meet any of the required Conditions of Closing, thus missing closing dates set earlier. RTGV had met all of its obligations in May 2007; however, we mistakenly gave them latitude for required changes in management, purported lost documents, cultural differences resulting in lack of urgency, while at the same time enhancing the value proposition for RTGV shareholders. There was a balance, but it took far too long, for which I would like to extend my apology. |
