Hangover Joe's Holding Corp. (fka HJOE)

[Durand]

the Borrower shall pay to the Holder $2,000 per day in cash, for each day beyond the Deadline that the Borrower fails to deliver such Common Stock....The Borrower agrees that the right to convert is a valuable right to the Holder. The damages resulting from a failure, attempt to frustrate, interference with such conversion right are difficult if not impossible to qualify.


HJOE's is apparently trying to "frustrate" the lenders by not filing so they are on the hook for 2K a day in penalties for just that one note. They have been in default since about 4/15 so they have accumulated about 420K in penalties so far