From the 10Q, http://yahoo.brand.edgar-online.com/

From the 10Q, http://yahoo.brand.edgar-online.com/DisplayFi...-12-000370

While MMA is recognized as the fastest growing sport on the planet, it is still very young. Takedown is well positioned to take advantage of a fragmented global market of MMA fight promotions, dominate the space through media rights consolidation, and ultimately bring fans “The Best MMA Fights from Around the World!”

On February 8, 2011, we entered into a convertible loan agreement with Triumph Capital Inc. Under the terms of the convertible loan agreement, Triumph Capital Inc. has agreed to loan our company up to US$500,000. The loan is convertible into shares of common stock at a conversion price set at 75% of the average closing bid prices for the ten trading days immediately preceding the conversion date. The loan will bear interest at 7.5% per annum. The principal amount of the loan is due and payable five years from the advancement date.

On January 31, 2011, we entered into a convertible loan agreement with Triumph Capital Inc.  Under the terms of the convertible loan agreement, Triumph has agreed to loan to our company up to $1,000,000.  On July 31, 2011 the loan, in the amount of $1,037,500, was converted into 1,383,333 shares of common stock (includes accrued interest). During the three months ended October 31, 2011 the 1,383,333 shares were issued.

On July 31, 2011, Triumph provided us with a conversion notice pursuant to an outstanding shareholder loan in the amount of $87,406, which had accrued interest of $20,894 for an aggregate amount due of $108,390.   The loan was converted into 144,420 shares of common stock of our company based on a conversion price of $0.75 and the shares were issued.

On August 30, 2011, we entered into a share cancellation agreement with Peter Wudy, a director and officer of our company, for the cancellation of 30,000,000 shares of our common stock held by Mr. Wudy, for no cash consideration. Mr. Wudy continues to hold a further 30,000,000 shares of our common stock.