ISCR » Topics » Cragmont Capital, LLC vs. instaCare Corp. et al.

This excerpt taken from the ISCR 10-Q filed May 28, 2009.

Cragmont Capital, LLC vs. instaCare Corp. et al.


 

The company was sued on March 27, 2009,  56-2009-00340925-CU-CL-VTA, in connection with its 2008 transaction with Cragmont Capital, LLC (“Cragmont”).  The Cragmont Complaint claims it is entitled to recover  the unpaid balance of $75,000 on a Promissory Note allegedly due in February, 2009, plus interest of $2,812.50, and attorneys fees.  Cragmont also has made claims of fraudulent misrepresentations in connection with that Note, including personal claims against the Company's directors Keith Berman and Robert Jagunich.  A demurrer to the Complaint was filed as to all misrepresentation claims. This demurrer was granted on May 19, 2008  in regards to the misrepresentation claims. Cragmont has been allowed by the court leave to amend its complaint.


The Company terminated its relationship with Cragmont in May 2008 for cause. The Company does not believe that Cragmont Capital lived up to its obligations in connection with the financing transaction, and instead pursued and continues to pursue other agendas detrimental to the Company.  The Company anticipates that it will shortly be filing a cross-complaint against Cragmont and its principals for damages.

 

This excerpt taken from the ISCR 10-K filed May 18, 2009.

Cragmont Capital, LLC vs. instaCare Corp. et al.


The company was sued on March 27, 2009  in connection with its 2008 transaction with Cragmont Capital, LLC (“Cragmont”).  The Cragmont Complaint claims it is entitled to recover  the unpaid balance of $75,000 on a Promissory Note allegedly due in February, 2009, plus interest of $2,812.50, and attorneys fees.  Cragmont also has made claims of fraudulent misrepresentations in connection with that Note, including personal claims against the Company's directors Keith Berman and Robert Jagunich.  A demurrer to the Complaint has been filed as to all misrepresentation claims.  The Company terminated its relationship with Cragmont in May 2008 for cause. The Company does not believe that Cragmont Capital lived up to its obligations in connection with the financing transaction, and instead pursued another agenda detrimental to the Company.  The Company anticipates that it will shortly be filing a cross-complaint against Cragmont and its principals for damages.


EXCERPTS ON THIS PAGE:

10-Q
May 28, 2009
10-K
May 18, 2009
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