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Imagination TV, Inc. IMTV
Posted On: 11/16/2013 2:02:27 PM
Post# of 45510
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Posted By: john1234

this is out of the 10q march 31 2013 on  the



Rescission of Punch TV


Rescission of Punch TV


Effective May 15, 2013, Joseph Collins resigned as President and director as result of the rescission of the Punch Television Network Agreement.  An associated accrual in the amount of $3,400 has been credited in the current period.

Additionally, the Company has reclassified the values of assets and liabilities of Punch TV as reported in the Company’s financial statements for the year ended December 31, 2012 to contra accounts labeled on the Balance Sheet as Net Disputed Assets and Net Disputed Liabilities , respectively.




Read more: http://www.faqs.org/sec-filings/130521/IC-Pun...z2kpwBenP4
















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