What "takeover currently outstanding"?

Change of Control . In the event of any merger, acquisition .or consolidation of the Company where the Company is not the surviving or resulting corporation, or upon transfer of all or substantially all of the assets of the Company, and Employee is not retained by the surviving or resulting corporation in a substantially similar position or position satisfactory to Employee ("Change of Control"), Employee shall be paid a lump sum equivalent to six (6) months of Employee's base salary then in effect (or twelve (12) months if such Change of Control occurs after two continuous years of employment) upon the execution of a general release. Such lump sum payment shall be considered to be in full and complete satisfaction of any and all rights which Employee may enjoy under the terms of this Agreement, except that any and all of Executive's unvested stock options shall become fully vested and exercisable

http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=5433685

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September 17 2007

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What we have is simply an update IN THE EVENT OF, no more, no less.

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Be well