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SUBSEQUENT EVENTS:
9 Months Ended
Jun. 30, 2012
SUBSEQUENT EVENTS:  
SUBSEQUENT EVENTS:

(10) SUBSEQUENT EVENTS:

 

Management evaluated subsequent events through the date these financial statements were issued. Based on this evaluation, the Company has determined that certain subsequent events have occurred which require disclosure through the date that these financial statements are issued.

 

With respect to the Company’s guarantee under the Agreement described in Note 6 — Note Payable, above, the Company believes that its guarantee with respect to one-half of the aggregate amount of New Shares was extinguished as of July 22, 2012. With respect to the remaining potential guarantee, the Company is in the process of reconciling information pertaining to sales of New Stock consummated by a Seller in order to ascertain its potential liability under this arrangement. As of August 6, 2012, the Company estimates that its liability under this Agreement will not exceed $355,500.