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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: tool dude who wrote (123245)	11/21/2003 10:46:06 AM
From: Taki	Respond to of 150070

CYKE maybe this has something to do, with the stock running.Read. 8) SALE OF BUSINESS Effective on July 1, 2003 the Company agreed to sell its Internet tobacco products business to American Indian CigCo, LLC (ACC). In conjunction with this purchase ACC agreed to purchase 2,000,000 shares of the Company's common stock. The purchase price aggregated $3,000,000 in the form of 2 notes payable as follows: o Payment for the assets of the business in the form of a note in the amount of $200,000 payable in 12 equal monthly installments of $16,667 commencing on August 1, 2003. o Payment for the 2,000,000 common shares is payable in the form of a $2,800,000 note with interest at 7% per annum, on an interest only basis. The interest payments are due annually commencing on July 31, 2004 and the principal balance is due on July 31, 2008. Accrued interest receivable of $49,000 has not been reflected in the accompanying financial statements, as recognition will occur as proceeds are received.