Bilco says read the language in the 14% note That was rather standard language in the note, so I wouldn't conclude that all the IP value defaults to this lien holder. If the outstanding shares are reduced by a reverse split (100 to 1) then a comparison with RVLT is appropriate. ILED should subordinate itself to major players like Siemens to lead the marketplace effort. Their own R&D, confirmed technology, plus manufacturing support from Leader is very valuable. This recent "turn of events" could be what we needed.
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