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To: ISOMAN who wrote (3912)6/5/1998 8:38:00 PM
From: CatLady  Respond to of 7491
 
"Eleventh Hour assumed the note from Cashco"

Which would imply that the debt already existed prior to the licensing agreement. What was the debt for?



To: ISOMAN who wrote (3912)6/5/1998 8:41:00 PM
From: Janice Shell  Respond to of 7491
 
Eleventh Hour assumed the note from Cashco.

No. Read it again: 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.

EHI originally was going to pay $250K cash up front to Merced; now they're going to assume Merced's debt.


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