The Farm 51 NEWCONNECT:F51:
SAID ON MONDAY THAT ITS CREDITORS FINGAMES FUND 1 AND FINGAMES LENDING HAD DECLARED TAKEOVER OF OWNERSHIP OF CHERNOBYLITE 1 AND CHERNOBYLITE 2 GAME IP RIGHTS INDICATING THE AMOUNT OF EUR 430,000 AS THE VALUE OF THE PLEDGED ITEM FOR THE PURPOSES OF ACQUISITION TO SATISFY THE PLEDGEE
CREDITORS PROPOSE DEAL TO WAIVE REMAINING DEBT PRINCIPAL, IF COMPANY TRANSFERS UNENCUMBERED CHERNOBYLITE 1 AND CHERNOBYLITE 2 IP RIGHTS AND PROVIDES STEAM RE-REGISTRATION DATA
COMPANY DISPUTES VALIDITY OF IP SEIZURE SAYING TAKEOVER SHOULD NOT HAVE LEGAL EFFECT
TOTAL REMAINING DEBT CALCULATED BY CREDITORS AT ABOUT 679,616 EUR AND 524,516 ZLOTYS
CREDITORS DEMAND IMMEDIATE PAYMENT OF ABOUT 179,616 EUR AND 24,516 ZLOTYS IN INTEREST
SEPARATELY, CREDITORS DEMAND ADDITIONAL 700,000 ZLOTYS IN PENALTIES OVER ALLEGED STATUS QUO BREACH
COMPANY DISPUTES 700,000 ZLOTY CLAIM, SAYING IT DOES NOT ACCEPT THE CHARGES AND CHALLENGES THEIR LEGAL BASIS
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