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Litigation Matters
12 Months Ended
Dec. 31, 2013
Litigation Matters  
Litigation Matters

NOTE 8 - LITIGATION MATTERS

 

The Company’s business and operations may subject the Company to claims, litigation and other proceedings brought by private parties and governmental authorities. Currently we are not a party to any pending litigation matters. Litigation can involve complex factual and legal questions and its outcome is uncertain.

 

Any claim that is successfully asserted against us could result in significant damage claims and other losses. Even if the Company were to prevail, any litigation could be costly and time-consuming and would divert the attention of our management and key personnel from our business operations, which adversely affect our financial condition, results of operations or cash flows. The following is a description of our recent litigation:

 

On June 4, 2013, Funding Surge, LLC filed a lawsuit in the Superior Court of the State of California, Riverside County, Case Number INC 1303586. The Complaint alleged a breach of a written contract and demanded the sum of $733,500. The Company denied generally and specifically all of the alleged claims, raised the appropriate affirmative defenses and filed a cross complaint against the plaintiff and Christopher Russo, aka Chris Russo.

 

The Company believes that the compliant is without merit, will defend the litigation, and will pursue all affirmative remedies set forth in its answer and intends to prosecute its cross compliant.