date:Apr 15, 2013
%. The conversion of the note and the issuance of common stock are subject to NASDAQ and shareholder approval if more than 19.9% of the companys outstanding stock would be issued.
Following the closing, Crumbs would agree that its board of directors will nominate Mr. Serruya or a designee of Mr. Serruya for election to the board at each annual meeting of stockholders for so long as Mr. Serruya holds the notes.
The board believes that Mr. Serruyas experience in food and snack retailing will be