Ann: Thred to dispose of main undertaking, page-77

Good luck! Am sure the full details will be forthcoming, but here is how it reads to me (I may be wrong):

1. Project Savvy is owned by THD management (not THD)
2. ART will buy Sweep IP which will be vendor financed by THD
3. 20% of ART will remain owned by THD, the remaining 80% owned by Project Savvy (not clear if anything will be paid for this)
4. THD won't receive any cash (to begin with) as they are financing the sale of the IP to ART
5. ART (now 80% owned by Project Savvy) will attempt to raise funds, which would dilute THD's (& Project Savvy's) ownership of ART