SSN Refinancing, page-6

As to issuance of shares ... have a 25% placement ability don't they. They used it.

As to refinance - forebearance agmt allowed for 2 options. One being $2M to be injected - which they have gotten so the forebearance is extended to May 31.

"The Company having received one or more equity contributions or proceeds of subordinated debt for the purpose of funding capital expenditures, with equity contributions and/or subordinated debt having resulted in net cash proceeds to the Company of not less than $2,000,000"

Ergo "breathing room" (or gasping for air). Equity of $1M and subordinated Debt of $1M

DynEvolve will by then own 50% of equity (as the short term loan is going to be repaid by CN) and have a more Convertible Notes going forward.

Dynevolve will be the future negotiator with MOB for the property (IMO).