Exhibit (iii) ACCEPTANCE OF COLLATERAL IN FULL SATISFACTION OF ALL OBLIGATIONS RECITALS: --------- GREGG GIUFFRIA (hereafter "GIUFFRIA"), as Pledgor, and RAYMOND R. ALCINI AND DIANA G. ALCINI, TRUSTEES OF THE RAYMOND R. ALCINI AND DIANA G. ALCINI 1998...Acceptance of Collateral • December 6th, 2004 • Giuffria Gregg Russell • Misc industrial & commercial machinery & equipment
GREGG GIUFFRIA (hereafter "GIUFFRIA"), as Pledgor, and RAYMOND R. ALCINI AND DIANA G. ALCINI, TRUSTEES OF THE RAYMOND R. ALCINI AND DIANA G. ALCINI 1998 REVOCABLE TRUST ("Pledgee"), entered into a certain pledge agreement dated July 31, 2002, by which Pledgor pledged to Pledgee Three Hundred Thousand (300,000) shares of Voyager Entertainment International, Inc., common stock ("Collateral") to secure the repayment of loans made by Pledgee by Pledgor totaling One Hundred Fifteen Thousand Dollars ($115,000.00). Pursuant to said pledge agreement, Pledgor transferred to Pledgee Voyager Entertainment International, Inc., Share Certificate No. 536, evidencing ownership of said shares, and executed and transferred to said Pledgee a stock power (separate from the certificate) for the transfer of said shares to Pledgee.
