Page 16 - E-ATS (A)

The Decision

Jim thought long and hard about the situation and essentially came to
the conclusion that he could not work with someone who lied by
omission if not commission. However, he decided that his best action

was to give Litan enough rope and see what he did with it. He
consequently sent an e-mail (Appendx 1:15) during the evening of
Tuesday 2nd March stating that he would take a 30% stake in the
company. However, it seemed clear to Jim that this offer would be
rejected but, given what had happened in the past, not immediately.

By the 4th March Jim had still heard nothing from Litan. However, the
solicitor had called so Jim sent a follow-up e-mail (Appendix1:16).
Litan responded by e-mail asking Jim to stop the work on the patent
contract and articles and memorandum of association (Appendix 1:17).
Jim took this as the sign that all was not well and that this was the
point at which he should seek final clarification and consequently sent
an e-mail, (Appendix 1:18) asking for such clarification.