|
Claudia -- Obviously I have no idea what the Letter of Intent really said, or whether this 100,000 share stuff is really true (BTW I am NOT doubting the messenger, just confused [g]), but the concept of one company buying out another company's rights under an agreement with a third party is not unheard of. If the LOI with Voxel gave ANY rights exclusively to HGRM (like, just as an example, the right of first refusal to buy Voxel for $5M at any time before 3/31/99, meaning that anyone else would have to either pay more or wait until after that date), any other company could offer something of value to HGRM to attempt to get HGRM to relinquish those rights. In this case, I can't understand how HGRM could have that kind of power, since Voxel's Trustee, the Creditors' Committee and the bankruptcy court, in that sequence, call the shots and their mandate is to maximize the return to the bankrupt co.'s creditors. Maybe the other potential purchaser has the money but wants assistance from HGRM in some way even after this other co. buys what's left of Voxel. I'm rather stumped. --Eric |
