Another $10,000 in the bankMore cash for a property they obviously don't want. They keep the cash if the deal doesn't go threw and can flip to someone else later . Good deal for CRE shareholders but not so good for Blue Note holders.
Under the terms of the Agreement, Blue Note has already made cashpayments totaling $125,000 to Critical Elements and, in considerationof an additional payment of $10,000, Blue Note now has until May 31,2011