Ellen,
Perhaps. ( "...reached agreement to proceed to market and sell MusicCard Products on its own", suggests a complete break from any prior agreement, including the licensing agreement). I wouldn't bet the farm on the PR, or your interpretation. I don't deny that you may well be right, either.
The licensing agreement may be dependent on the audit, too. Invalid audit, invalid license agreement.
To keep Piercy from holding TSIG from going forward with its business, or to prevent a lawsuit, I would not be surprised if Piercy received something to just go away. The document we've seen doesn't say that, but who knows...
I still don't believe that Piercy will get the 1%, but even if he does, its not very significant. The shares, on the other hand, I feel are more significant.
All of this is, of course, just my opinion.
Regards,
TS |
