Under the APA, the Company sold all of its rights to the IP to Bethesda for
a total amount of $5,750,000.00 payable to the Company, subject to various
conditions, in three cash installments. The first installment of $2,000,000.00
was paid following closing when $200,000.00 was paid to the Company and
$1,800,000.00 was deposited into an escrow account to satisfy various
liabilities. The Company expects to have fulfilled its obligations under the APA
and to receive full payment during the third quarter of 2007. The Company had
previously, on June 29, 2004, entered into, an exclusive licensing agreement
with Bethesda, regarding the IP which was superseded by the APA.
zdroj:http://www.sec.gov/Archives/edgar/data/1057232/000117091807000441/0001170918-07-000441.txt
