What happened to iExalt?
A. The corporate headquarters in Houston was shut down in the fall of 2002 and all other subsidiaries were sold off. Only Keener Communications Group remained, but the filing of an Involuntary Bankruptcy petition against iExalt on Nov. 1, 2002 caused a potential buyer of KCG and the Christian Times to back out. For the past year we have continued to operate the newspaper autonomously, while technically still owned by iExalt. During this time we have attempted to negotiate a number of options with iExalt, finally agreeing, in late Spring, to terms that, in our view, were not very favorable to us.
