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Pastimes : Plastics to Oil - Pyrolysis and Secret Catalysts and Alterna
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To: scion who wrote (6523)4/20/2011 8:43:10 PM
From: SteveFRead Replies (2) of 53574
 
But Baldwin resigned in April and that suit was filed in March. Also, the 10K indicates the escrow was released:

Restricted Cash

As of December 31, 2010, pursuant to the terms of an employment agreement between the Company and an officer, the Company was required to have $144,500 held in an attorney trust account for the settlement of any future severance payments. Subsequent to year-end, the officer resigned (Note 18).

<snip>

The Company accepted the resignation of its Chief Financial Officer on April 6, 2011. The amount included in restricted cash was released to pay the officer (Note 2).

sec.gov
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