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Is it the tree one?
Will I turn into a princess?
Boy, this does not make my upset stomach feel any better!
Mike,
I have been in this stock for a long time. An engineer with a major fertilizer Company told me about it. I think that is what is true then is still true. Itro has been through many ups and downs, but I still think that it is worth holding on to. We do not know the terms of the agreement with NIR, but we can read between the lines, and I do think that the overall agreement was in our favor. I for one am holding on.
This may get to a penny, but will take a few positive quarterly's to get to .10.
I guess erased or dissolved would be better terms. The notes have been erased from the liability side of Itros balance sheet. Is that not better? Now we can get onto more important matters.
Yes it is a possibility. I have said that Itro was in the drivers seat when it came to the terms of the agreement. I do not think anyone thinks that Itro does not owe NIR $8+million. But if NIR did their normal suicide attack they would have destroyed Itro, but they would have been left in the dark as far as the notes were concerned. In other words, they would not get their money. I am sure that the terms of the agreement are not written the way NIR would normally write one, but I do not think they had a choice with Itro: nor will they with all the other Companies they have to settle with. We will probably never see the actual agreement, but we can read between the lines. It is important that the Companies have a chance to survive in order for NIR to get their money.
"Dude you are losing it. A 8million dollar debt is not removed from the liability side of the balance sheet. What a hoot. You are trying way too hard to come up with something. Look how you contradict what you write in the very same post. A Note is a contract, governed by contract law.
The only truth to what you say is "The contracts were replaced by the settlement agreement." That doesnt mean they were cancelled. NIR will still convert because ----- they were not cancelled."
It is apparent that you still do not understand, so I will explain one more time.
Let us say that I want to borrow $10. You agree to lend me the $10, but you want your money back in a very special way. We have to go to the lawyers and draw up a contract to complete the deal. I put the debt (notes) on my balance sheet. The money is due in two weeks. I have figured out that I can't pay you the $10 in accordance with the contract we signed. I go to you and say I cannot pay back the $10, can we come up with a new agreement. We do. It is now payable in seashells which I will receive in two years. We now have a new agreement. This does not require the judge to rule. I can now remove the debt (notes) from my balance sheet. Walla! Thay have been expunged! Itro is now free of the notes payable on the liability side of their balance sheet. Since I will be paying you in "free" seashells, I do not have to replace the note with any other liability.
It is the same as a will that you make out for your heirs. You can change it anytime you want. The one that is in force is the one with the latest date.
The 8k which is a required document of the sec includes a pr as a further explanation of what was done. The notes are GONE! Itro is free of the notes payable and they can now do what they want. Something else for you to get aggravated over.
We can only hope!
The debt may still be there in accordance with the settlement agreement, but the notes are gone! The judge and lawyers changed the notes into a settlement agreement. They may have to go back on the liability side of the balance sheet, but that is up to the accountants, and I can not speak for them. All I know is that the notes are gone! You are trying way to hard to keep them there, especially when you do not know what the settlement agreement says. I never said the notes were canceled except in relationship to the 8k.
They owe NIR 8+ million dollars. I assume they can either write a check or issues shares. This would dilute the stock price and dilute ownership. The terms of payment are in the settlement agreement.
As a child did you ever have a "connect the dots" coloring book? They still have them you know. The concept would help you here.
The only problem is that the gun is out of bullets. They still have a lot of suits to settle. NIR needs some integrity and I am unsure they understand what it is.
"Expunged means erased dude."
Exactly! The notes have been erased from the liability side of the balance sheet of Itro. This is a normal accounting function when notes are erased, expunged, or canceled.
The notes written on the balance sheet were not business contracts, nor were the business contracts eliminated or expunged. An 8k was filed. Here it is again.
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7532401
The contracts were replaced by the settlement agreement. We do not know what the terms of the settlement agreement are, nor has it been published. Neither were the terms of the original contract. The settlement agreement replaced the original contract. They say that NIR can accept either cash or shares. I do not think it is up to NIR whether to accept cash or shares. That is up to Itro. They are in the drivers seat on that issue.
PS. The drivers seat is the one behind the steering wheel.
True except for a couple of minor points. The settlement and the lawsuit are complete. NIR won. They will be paid in shares or cash. They are due 8 mil+. Terms of payment schedule have not been made public or are they likely to be at this point. The notes are gone, so balance sheet looks better. Maybe the release of the settlement is not made public at the request of NIR. They did lose 90% in their hedge fund last year. They want to keep investors happy. We may never know what the true story is, so we will have to wait until the rest of the story comes out. Answers will be forthcoming in watching share price, Shares available for purchase, and Sec documents filed. Patience will be required.
Look it up. Expunged means canceled. Either you believe the PR and the 8k or you do not. I believe that the notes were canceled. That is the correct accounting way to take care of notes that are no longer valid. Other adjustments may be made to the balance sheet, but the notes are GONE!
Do not know.
He will still need help doing the chemistry, and I think his lack of integrity has taken him off Doc's "I will help you" list.
Could happen, but I do not think he wants to run and own Itro. He lacks the integrity.
I am not sure that suninthefun knows what he is saying.
A Pr is not an 8k. The 8k was included in the PR. We have read the information in the PR which includes the 8k. It says that the notes have been expunged by agreement. We can either believe or not believe or blame the sec for not providing full disclosure, but either way that is all the info that has been presented so far.
So you are saying that an sec rule is in place that forbids Itro and Nir from not disclosing their agreement? I have seen agreements and other judicial evidence that were sealed by the court. It was against the law to divulge the information. I am not saying that is the case here, but I do feel that NIR and Itro have agreed not to divulge the points of the agreement. The reason for this could be one or many, but I do not think that we will see the actual agreement or even a summation. We can holler or jump up and down all we want, but it will not be forthcoming. The secrecy agreement could be written or conducted by a hand shake, but we will not see it.
The 8K is not a PR. The PR is not an 8k. The 8k is a required document of the sec. So if the lawyers file a secrecy agreement, the judge and the sec are bound by it? Does the sec determine the secrecy rules? Did the sec require Itro to publish the agreement? I cannot imagine that the lawyers would write an agreement that was in violation of sec rules. Of course that would mean that the lawyers had integrity. I have been wrong before.
So does the sec require disclosure? So the "court" does not have a confidentiality clause? The court dictates the way an agreement is written? We are all brainwashed? NIR is good or bad? I am only trying to learn the judicial rules, and more about the litigants. Do not put me in harms way.
Will that be added to the frog guts?
Boy is that going to raise the ire of the nit picker. Nir does not have shareholders. They are a hedge fund. I guess we have to say that they have investors. I guess that we can only hope that we are told how they or we know how much of NIR that is owned.
Yes I was the mod at one time. One day the mod. The next day removed. Funny how thing happen.
Both gold and silver are about to go vertical.
Mine show in my account as trade-able, so I guess yes.
I was issued shares at the time. Irony has had shares longer than I.
We both bought in many moons ago and even have tree frog stock.
So 100,000 shares is worth $8 million. And it was I that had the math problem?
The sight says:
"As part of the resolution of the litigation, the parties have entered into a settlement agreement for the balance due under the Notes and the Notes have been canceled."
Is that not what you were told?
No one has presented the agreement or provided a link that shows what it says. The market will tell us part of what it says. We may never know exactly what it says. All the guessing we do is only conjecture. You or I can be as positive or negative as we want to, but that does not make it so.
NIR made so much money selling stock last year, that I am sure that they will want to sell more! Good Plan.
Good for me!
I want my shares, and I want them NOW! Maybe I should call the # on the TV screen.
Boy are you one astute investor. I take my hat off to you. You have Itro pegged to go down big time, and all you have to do is put in a big short sale, and you will be rich. Man, I envy you. I did not recognize that the court filing was the final agreement. What a klutz am I. I better go back to the correct kool aid fountain.
The second sentence is yours. That is what I am asking you to define.
Yes CR is not very ethical, but he is a good business man. He can try to sell whatever # of shares he gets, but I am saying either he will not get much money. or the price will be dirt cheap, or it will bankrupt Itro and he will get nothing. I see him as being aware of that. I could be wrong, but I think he is smart enough to wait a while before unloading his shares. He might receive cash instead if he is a knowledgeable business man. That is an option you know. He made his 'money' selling stock. This is not the time to do that. With 3 million+ OS, I think he is smarter than that. But you are the NIR expert, so we shall see.
It appears that you need a course in diction, as well as a good English course. Possibly then we could understand your posts.
until NIR is not selling the shares will be cheap
Does this mean that if NIR is not selling the shares that they will be cheap? Oh I see. Until NIR is not selling the shares must be the key to this analysis.
Can you explain this please.
I read your post. Neither post makes any sense.
I do not care if NIR sells 8 million, 800,000, 80,000, or 8,000 shares into the current market. They will not sell or sell sub penny. Not good for a smart business man like CR. Just trying to make a point. Obviously, you did not understand it that way. I really feel your pain. I see that you are up to name calling, so again WHY are you so mad. Did Osama get your underwear? Itro will get through this. We do not know what the agreement says.
That makes no sense. NIR will get 8 mil shares, but only some---less than 5% of the os. They will sell those shares. OK, you do not know Fed.
What or who are you mad at?
Itro will be paid $8 million---this is in dollars.
It will or can be paid in cash or shares.
The agreement to the actual terms has not been made public.
So what is your question again
The math is pretty straight forward. Where do I need to smarten up?
OK--8 million shares put up for sale on the 4th. Sell for 1/1000 cent per share. Itro goes bankrupt, NIR gets rich. Sounds like a win win to me. Thank you so much for smartening me up.
PS Did Fed send you or did you arrive on your own? You do not answer questions, so I thought you might be related to Fed. Sure hope Itro makes it, but sure is looking bad!
How many lawsuits have you been involved in? Where did you get this information? Common sense tells me that the judge has to decide who wins before the parties can come to some sort of agreement as to how it is to be paid or settled. The chicken has to come first. That is my common sense, plus the fact that I have viewed or been involved in several law suits.
So your common sense tells you that you come to an agreement before the judge decides? Trust in your beliefs.
Not naive---just using common sense. There is no settlement agreement that has been made public. Yes, I believe that NIR settled the agreement after the litigation was over. That is how it works. Trust me----been there done that. Yes NIR got a "summary" judgment. Not a final one.