Panton, Leslie & Company reorganized in 1804 as John Forbes and Company, then sought to collect on its claims of debt against the Seminoles and the Lower Creeks. The Indians agreed to settle their debt by ceding land in 1806 and 1811 to the Spanish government, which conveyed the deeds for more than 1.2 million acres of land to its creditors, John Forbes and Company; this became known as the “Forbes Purchase". These grants comprised a huge tract of land on the Gulf of Mexico between the Apalachicola and Wakulla Rivers in West Florida, extending inland twenty to thirty miles.