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To: Spktyr

No it doesn’t. Nobody gives up preferred stock for money during the course of a suit. That’s stupid. If you have to give up money because of a suit the other side isn’t going to give you stock for it, and if you have to give up stock in a suit the other side isn’t going to pay for it.


135 posted on 04/12/2008 4:23:46 PM PDT by discostu (aliens ate my Buick)
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To: discostu

Think again.

http://www.allbusiness.com/banking-finance/banking-lending-credit-services-letters/6915992-1.html

Gradco Systems Inc. (Nasdaq:GRCO) Thursday announced that the settlement of the litigation between itself and John C. Hamma and Tenex Corp. has been completed.

Pursuant to the agreement executed Thursday Gradco agreed to pay $5 million. Three million dollars was paid with the execution of the agreement and $1 million is to be paid in each of the next two years without interest, secured by a letter of credit. In addition, the plaintiffs received five-year warrants to purchase 250,000 shares of Gradco stock at $4 per share.


137 posted on 04/12/2008 4:26:37 PM PDT by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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