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APY » Topics » Note 6-Other Current Liabilities

This excerpt taken from the APY 8-K filed Feb 6, 2006.

Note 6-Other Current Liabilities

 

On July 20, 2005, a lawsuit was settled with a former employee (and co-founder) for $229,000.  The amount is payable at $25,000 per month for 8 months starting on October 17, 2005, and a payment of $29,300 on June 17, 2006, plus accrued interest of 6% per annum.  The balance recorded at September 30, 2005 was $229,300 plus accrued interest.

 

"Note 6-Other Current Liabilities" elsewhere:

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