As a result of the lack of response of Shareholders to take the option of selling shares in amounts of 100,000 or more at the then market price, we had numerous sales of shares but all at a price far below the $1.00 share price that had been agreed to by the Board of Directors.
On September 26th, 2008 an agreement has been signed between Surity Partners LLP of Atlanta Georgia and Cavitation Concepts Corporation. Both parties have agreed for Surity Partners LLP to arrange a credit line using The stock owned by Cavitation Concepts Corporation of “PSPO” stock as collateral for an initial loan amount of up to USD 20 million. The agreement is premised on the share value being a minimum of One Dollar USD ($1.00) per share and/or shall be pro-rated to the share value on the day of transfer.
