Alumifuel Power Corp. (AFPW)

[I-Glow]

Nothing as amusing as a Schadel press release about reducing debt. From the PR:

AlumiFuel Power Corporation (OTC Pink: AFPW) ("AlumiFuel" or the "Company") today announced that it has successfully negotiated agreements with certain noteholders to restructure and refinance its outstanding debt.

The Company has reached agreements with three of its convertible noteholders whereby the Company may redeem the notes for cash. The agreements call for a freeze on conversions of debt to shares of common stock by these noteholders.

Of course the Noteholders aren't identified.

What in the hell is Schadel going to use to pay the Noteholders - it has to be either Monopoly Money or more Toxic financing.

In the last 10-Q filed the total cash and Assets was $1,071. There wasn't any revenue.

Schadel made many similar promises with LTNC:

today announced that since the beginning of the 4th Quarter 2015, the Company has eliminated over $800,000 in convertible notes payable through its structured cash payment agreements with noteholders.

How many lawsuits has Schadel lost to Noteholders for not repaying the loans? 3 soon to be 4.

IG