"Tyhee has provided Santa Fe with purported notice claiming a default under its bridge loan agreement."

In the original agreement, "The principal amount of the Bridge Loan becomes due and payable upon termination of the Merger Agreement or, following completion of the merger, will be converted to an intercompany loan. Santa Fe may prepay the principal amount and accrued interest of the Bridge Loan at any time and from time to time without penalty."

The principal amount of $1.75 million is now due and payable.

"Tyhee has only advanced approximately $1.75 million of principal and accrued interest under the $3.0 million facility. Given the terms of the bridge loan and merger agreements, Santa Fe believes that Tyhee's default notice is wrongful. As such, Santa Fe has provided Tyhee notice of its intention to vigorously pursue enforcement of all its legal claims against Tyhee."

Seems SFEG is going through the motions to vigorously pursue enforcement. But they don't have a leg to stand on now they have terminated the agreement, they have to come up with $1.75 million if they want a divorce.

Ike