" Please keep looking into what the contract says."
Has the contract or any other terms of the contract been made publicly available?
Anyway, what is your opinion of this, from the press release?
"Under the terms of the final agreement, Merced, Inc. will receive 1,500,000 shares of EHI=s Convertible Voting Preferred Stock, convertible into Common Stock of Cashco, on a share for share basis, or into EHI Common Stock, under certain circumstances, as sole consideration for the acquisition of the exclusive license. In addition, EHI has agreed to assume a $250,000 promissory note which the exclusive license is subject to in lieu of the previously agreed upon cash payments to Merced, Inc."
This is outside my area of expertise, but the use of the word sole does not seem appropriate if indeed there is also a $250,000 promissory note. Is it a mistake, or is there a legal meaning that I am not grasping? |
