In December 2006 we received $1,000,000 gross proceeds from the sale of 1,000,000 units to Hampton Park Capital LLC. Each unit consisted of one share of common stock and one share purchase warrant, exercisable for one share of common stock at an exercise price of US$2.50 for two years from the date of issuance. The $1,000,000 raised by us was lent to UniverCompany on an unsecured basis, with no specific terms for repayment.
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the million I suppose was direct cash thing to Belchenko "a loan" and Belchenko and his people otherwise paid for karalon with between 41,000,000 and 15,000,000 shares I can't tell, perhaps someone can interpret.
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