These securities were disposed of in connection with a certain Stock Acquisition and Voting Agreement (the "Acquisition Agreement"), dated as of March 30, 2006, by and between The McKay Group, Inc. ("Buyer"), Dr. David M. Long, Jr. ("Dr. Long"), Donna...Long Donna Ray • April 11th, 2006 • Electromedical & electrotherapeutic apparatus
These securities were disposed of in connection with a certain Stock Acquisition and Voting Agreement (the "Acquisition Agreement"), dated as of March 30, 2006, by and between The McKay Group, Inc. ("Buyer"), Dr. David M. Long, Jr. ("Dr. Long"), Donna R. Long ("Mrs. Long"), Dr. Raymond A. Long ("Raymond Long"), the Long Family Trust, dated December 30, 1997 (the "Trust") and the Long Family Partners II LP ("Partners," or together with Dr. Long, Mrs. Long, Raymond Long, the Trust and Partners, the "Sellers"), by which an aggregate of 6,864,194 shares of Biofield Corp. Common Stock, in addition to $2,000,000 of debt (comprising principal and interest) owed to the Sellers by the Biofield Corp. were tranferred to Buyer. Pursuant to the Acquisition Agreement, Sellers are entitled to receive a royalty equal to one (1%) of net sales generated by worldwide sales of Biofield products over a three year period. In addition, Buyer is required to make reasonable best efforts to cause Biofield Corp.
