Paradigm Medical Industries Inc. (PDMI)

[BOS]

Per the terms of the agreement made.

Upon execution of the Settlement Agreement, the liquidator, on behalf of the investment funds, agreed to waive the conversion rights with respect to the notes that the Company issued to the investment funds. As a result, the notes can no longer be converted into shares of the Company's
common stock even in the event the Company defaults on the settlement payment.

However, if the Company defaults on the settlement payment by not making the payment when due and payable, a default judgment may be entered against the Company in favor of the NIR funds in the amount of $2,550,000, minus any payments made by the Company under the Settlement Agreement prior to entry of the default judgment. The initial due date for payment of the $150,000 plus accrued interest to the liquidator was October 20,2013. On October 31, 2013, however, the Company received approval from the liquidator to extend the deadline from October 20,2013 to January 17,2014 for payment of the sum of $150,000 plus accrued interest.

On February 18, 2014, the Company received approval from the liquidator to extend the deadline from January 17, 2014 to June 30, 2014 for payment of the sum of $150,000 plus
accrued interest.

These guys don't agree to extensions and no conversions for no reason. You have been here over the years and seen the raining down of shares.

What I am saying, with what is put in the release, tells me that the funder realizes they will never get any money back unless they work with the consultants to clean the company up and move the stock back up. Why else would they continue to extend.

IMO