Top Shelf Brands Holdings Corp. (DKTS)

[Carini]

What in the world are you talking about? It's a matter of basic contract law and/or common law claims for fraud and unjust enrichment.

The lenders gave Alonzo money. In exchange they received a promise to use the funds in a certain way and to repay the loan in some form at a later date. That's all the consideration needed to form a valid contract.

If I take out a loan from the bank and tell them I will use the money to put an addition on my house, and instead I go to Vegas, lose half of it and then get robbed of the rest from my hotel room, it doesn't mean I am not still legally bound to repay the loan. In Nevada or any other state.