Agreement with Exchange
On March 21, 2017, the Company entered into the Forbearance Restoration Agreement (the “FRA”) and a Ticket Exchange Agreement (the “NEA”) with the forbearing holders. The minimum number of workers required to form a union was not discussed, as no support was found even among Panamanian workers` groups. Panama has also enacted laws implementing the U.S.-Panama Tax Information and Exchange Agreement (TIEA), which provides greater tax transparency to support the reduction of illicit financial transactions related to money laundering activities. The tender statement describing the RTO and the share exchange agreement were each filed on May 29, 2015, the press releases describing the RTO and the private placement were filed on March 13, 2015, June 1, 2015, June 30, 2015 and July 6, 2015, respectively. This amount includes (1) the 1,250,000 shares acquired by Mr. Bentivoglio under the Share Exchange Agreement and (2) the 187,500 shares held by EPHS, Inc. L002082R – July 2, 2015 Note Purchase and Exchange Agreement, Registration Tab 18, p. . .
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