30K/mo clarified via Fred

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30K/mo clarified via Fred

posted on Apr 11, 2013 09:48AM

It means that we are paying them a monthly fee and we then get it back whenever we have settlements.

From: Joe
Date: Wednesday, April 10, 2013 7:22 AM
To: Fred Falk <ffalk@edigital.com>
Subject: Sept 16, 8-K

Our group is confused by the wording of the 30K/mo for Handal's "retainer."

From the 8-K:

"The Company will pay a monthly retainer fee of $30,000 creditable against future contingency recoveries."

Does this mean we are not sending them a monthly payment and after settlement money comes in we owe them then?

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