Bridgepointe is an investment fund with its principal place of business in the

Cayman Island. Respondent BIOMETRX (“BMRX”) is a Delaware Corporation with its

principal place of business in Jericho, Long Island, New York. The Court notes its

jurisdiction under 28 U.S.C. § 1332.

Bridgepointe and BMRX entered into a series of financial transactions:

(1) Securities Purchase Agreement, dated December 28, 2006;

(2) A Convertible Debenture payable to Bridgepointe, dated December 29, 2006;

and

(3) An Extension and Waiver Agreement, dated September 9, 2008.

No payments were made by BMRX and on February 11, 2009, Bridgepointe

demanded expedited arbitration pursuant to the terms of the Securities Purchase

Agreement, and the Convertible Debenture,1 both of which provided, in pertinent part:

…………Bridgepointe now moves to enforce the award of $628,405.85.

BMRX asserts that the transaction between the two parties was void because the financial

arrangements were criminally usurious. Had more time been allowed, BMRX would

have presented this defense.

http://docs.justia.com/cases/federal/district-courts/new-york/nysdce/1:2009cv06874/350278/17/