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It would be hard to believe the CEO could
make such a great statement in the A.M. and
then fizzle in the P.M.?
He said that history would be made today.
I will give him the doubt.
Hey Bill, give us the great news.........
Don
How Red ?? Thanks.
IMPORTANT : CEREPLAST AND HORIZON FINANCING.
17-Jan-2014
Triggering Events That Accelerate or Increase a Direct Financial Obligation or an O
Item 2.04 Triggering Events that Accelerate or Increase a Direct Financial
Obligation or an Obligation under an Off-Balance Sheet Arrangement Entry into a Material Definitive Agreement
On January 13, 2014, Cereplast, Inc. (the "Company") received a Notice of Event of Default (the "Notice") from Horizon Technology Finance, Inc. with respect to the Company's Venture Loan and Security Agreement dated December 21, 2010. The Notice was triggered by events of defaults resulting from the inability of the Company to pay interests and principal pursuant to the terms of the Loan documents dated December 21, 2010. The Venture Loan & Security Agreement in the aggregate amount of $5,000,000 were originally issued on December 21, 2010. As of the date of this current report an aggregate amount of $2,800,000 of the Loan remain outstanding.
The Company is currently exploring options to cure the Default and protect the Assets of the Company.
IMPORTANT : CEREPLAST AND IRONRIDGE FINANCING.
21-Jan-2014
Termination of a Material Definitive Agreement
Item 1.02 Termination of a Material Definitive Agreement.
As described in a prior Form 8-K, on August 24, 2012 Cereplast, Inc. (the "Company") entered into a Stock Purchase Agreement ("Agreement") with Ironridge Technology Co., a division of Ironridge Global IV, Ltd. ("Ironridge"), for the sale of up to $5,000,000 shares of convertible redeemable Series A Preferred Stock. The Agreement prohibited Ironridge from engaging in various activities that could be harmful to the Company.
On January 20, 2014, the Company notified Ironridge that Ironridge is in material breach of the Agreement and therefore, effectively immediately, the Company is terminating the Agreement. To date, Ironridge has purchased only $ 2,970,000 of the Series A Preferred Stock. The Company is currently exploring additional financing options as a replacement.
Do you think .10 oossible in the next 90-120 days?
No guarantees just your opinion.
Thanks:
Don
p.s. added 200K shares at 0303 this am.
Do you think .10 oossible in the next 90-120 days?
No guarantees just your opinion.
Thanks:
Don
p.s. added 200K shares at 0303 this am.
flaflyersfan: I certainly respect your opinion
and comments. I did some DD and see that Scheer
has retained one of the prominent law firms in
the Eastern United States to bring this case to
trial. (And one of the lawfirms top attorneys)
Now it seems to me that these top law firms do
not take a case unless they feel they have a
very, very good chance to win a verdict for their clients.
The legal cost for both sides has to be enormous.
Would a top law firm take on a case like this to come up
empty?
Magna tried to have the case dismissed, and were rejected.
Which to me shows merit in the complaint.
I would appreciate your comments on how you feel Cereplast
is going to come out of all of this?
Thanks again.
Don
LAWSUIT !! Some have suggested that this lawsuit
has caused Scheer to keep a low profile and not
rock the boat. This makes perfect sense. His high
powered attorneys want him to keep the SILENCE
because they sense VICTORY !! The more damage that
CERP appears to have received because of the actions
of MAGNA / HANOVER, the better the judgement for CERP.
(Thus no PR's from Scheer.)
I believe Scheer feels he has this CASE WON. And I think
he does, based on the evidence I have seen.
If MAGNA/HANOVER ARE SMART THEY WILL SEEK A SETTLEMENT.
Or they can face a jury and LOSE everything. With
criminal action facing some of the corporate officers.
Scheer does'nt need any sales orders if he procures
a BIG victory in court...........and he knows that will
tie him over until 2015 when the orders will start to come
in a steady stream.
Of course this is just my humble opinion.
Don
Great Observation. Thanks.
Don
Agreed.
Hey BrassMonkey:
Maybe the joint venture is with a medical MJ company?
Here is what I wrote earlier today.
"Great post. I noticed in the PR release today they stated they are close to a major joint venture. Would this not be tremendous news? Would love to hear your comments on the joint venture situation that they mentioned in the article. Thanks."
Thank you Renee. Certainly appreciate your
feedback as you are well respected on this board.
Thanks for taking the time to respond.
Don
ajh16230:
Your comments and opinion are very much appreciated.
Thanks for taking the time to express them.
Don
Renee, would really like your opinion on whether
to hold at this point or sell off?
Not looking for guarantee's, only your honest opinion.
You appear to be right on top of everything and
very knowledgeable about CERP.
Any sense of direction would be very much appreciated.
Thanks.
Don
Could you please post the summary from carpathian?
I cannot locate it.
Thanks:
Don
Appreciate your insight.
You have many followers !! Please keep us posted
on your opinions.
I am in this for the duration.
Thanks again.
Don
Very informative. Keep your comments coming.
I plan to retire with the income from this stock.
(Goal is 1 million shares)
Thanks:
Don
Thanks for your "heads up."
Purchased 250K additional shares.
Appreciate your efforts.
Don
Very clever way to articulate the situation.
Well done my friend.
So I will hold on to this stock until I
drop dead and then pass it on to my estate.
Tax free of course !!
Thanks to your attention to my request Shell3.
Don
Wowsers !! Even 1/3 of of PLPE current price would
be sensational.
I see an early retirement on the horizon.
GLTA
Thanks for your keen observation.
Don
Makes good sense to me. Will add more today before close.
Thanks for your astute comments.
Very much appreciated.
Don
Does anyone have a "good faith" estimate
of where PHOT will be in the next 24 months.
I need to do some forward planning and projections;
I am in this for the long haul and want to add to
my current position.
Any "projections" you can give me would be helpful.
Everything will be based on a reasonably good effort
by Growlife management.
Thanks for your attention to my request.
Don
Will do. Your comments inspire hope.
Thanks again.
Don
Do you folks want factual data....Read PHATLANDER'S comments:
Excellent!! Stellar!!
By PHATLANDER:
Exactly! CERP has been churning nicely lately like a monster waking up, still some want to try to kill the tide that has started here. Who would have a vested interest in that?
I have to admire a guy like Mr Scheer who is so proactive on so many fronts to make CERP profitable for all of us! He's been out actively and successfully championing the EU legislature that has created the changing event that could bring about a total reversal for CERP. Just as this has gone downhill from NASDAQ, this could see a run all the way back to the big boards with the orders that the EU legislation is sure to drive in! That's a huge possible upside here, and a good reason to be patient with what is in play here.
Additionally, Mr Scheer, who holds a doctors degree in law, has taken on Hanover and Magna in a court of law for their actions as alleged by CERP of manipulating and driving down pps here, among other things. He hasn't idly sat by to take the action on the chin, but is taking the big boys to task in a jury trial! This is sure to have the big boys worried, so to try to minimize Tort claims it is likely that they would hire professional bashers to post on boards such as this.
At the same time he's been out pursuing possible contracts. Our CEO has taken a lot on his shoulders, and doesn't seem to me like the kind of man who has quit in him! As long as he keeps going, we all stand to profit.
Go CERP!!!
Phatlander: Your response was a true MASTERPIECE !!
I believe everyone on this board can benefit from
your insight.
Your articulation is so very much appreciated.
This response took a lot of effort and INTELLIGENCE.
You have a legal mind laying it out the way you did.
For me, I am in this for the long haul, win, lose, or draw.
Thanks for giving us a fighting chance.
Don
Great dissertation PHATLANDER !!
Enjoyed every word of your factual memo.
Thanks so very much for taking the time
to lay this situation with CERP out so well.
It would be very helpful for me in my forward
planning to get your opinion on where you think
Cereplast might be in the next 24 months. This
is provided that things go reasonably well.(PPS)
Not looking for guarantee's only your OPINION.
Thanks again for a job well done.
Don
Huge settlement on the horizon in FAVOR of Cereplast.
Cereplast has retained a prestigious
law firm and top notch lead attorney
to go after Magna Holdings.
No good law firm is going to get
involved in a time consuming and
expensive law suit unless they are
confident of winning a settlement
or a verdict in their favor.
Most of these types of cases end in
a settlement.
I believe CEREPLAST will prevail.
And remember, Magna does not want to
spend a fortune on legal cost, only to
end up losing the battle. So I believe
they will CAVE.
Huge settlement on the horizon in FAVOR of Cereplast.
Cereplast has retained a prestigious
law firm and top notch lead attorney
to go after Magna Holdings.
No good law firm is going to get
involved in a time consuming and
expensive law suit unless they are
confident of winning a settlement
or a verdict in their favor.
Most of these types of cases end in
a settlement.
I believe CEREPLAST will prevail.
And remember, Magna does not want to
spend a fortune on legal cost, only to
end up losing the battle. So I believe
they will CAVE.
Huge settlement on the horizon in FAVOR of Cereplast.
Cereplast has retained a prestigious
law firm and top notch lead attorney
to go after Magna Holdings.
No good law firm is going to get
involved in a time consuming and
expensive law suit unless they are
confident of winning a settlement
or a verdict in their favor.
Most of these types of cases end in
a settlement.
I believe CEREPLAST will prevail.
And remember, Magna does not want to
spend a fortune on legal cost, only to
end up losing the battle. So I believe
they will CAVE.
OMO.
Thanks:
Don
We are on the same page, and it's all factual.
Good job articulating.
What is really wonderful, is that the Protandim
products really do work.
Everyone just has to be patient and enjoy the drive
upward.
Thanks again for your comments.
Don
Do not be discouraged if this stocks GYRATES
for awhile.
It soon will head NORTH with good positive gains.
Looking at $4.00 plus in 2014 is not unrealistic.
I held the stock at $3.60 and dollar Cost Averaged
it all the way down to $1.40.
Believe !!
Don
We all pray you are right.
We all want CERP to succeed.
But you have to admit, they can do
much better with their PR then they
are doing now. And Scheer is responsible.
Don
Harpdog:
I called and left messages for 2 employees
at Cereplast.
Ask them to call me back............no response.
I did all I could short of calling the police.
Hats off to you. Please report back to us.
Thanks:
Don
We will all know something very soon. (January)
Certainly appreciate your insight into
the situation.
I lost over $20k in a crooked racket
that fell apart like a cheap watch.
Do not want to repeat it again.
Thanks:
Don
All of your statements are factual.
I believe that the stockholders must
see some production in January 2014.
Even a modest order for Cereplast
would lift the spirits of everyone.
But more importantly show some confidence
in what Mr. Scheer has to say.
Good luck to you and to all a good night.
Don
Thank you for the input.
Don
I respect your point of view.
Now when it comes to Bankruptcy, would the
stockholder have a claim to all the patents?
These patents could eventually be worth
millions of dollars.
Would be great if there were some sort of
recourse.
Of course this would takes years to settle
in courts of law.
OMO.
Don
Dontblink: Yes, it is a sad state of affairs.
And very well articulated by you.
Cereplast PR stinks, and it's sales team is
no where to be found.
Great product and nothing to back it up.
What a waste.
If I were the CEO, I would say produce, or
hit the road Jack.
Hey, Mr. Scheer, no more Mr. nice guy. Let's
put a winning team together.
OMO.
Don
It's hard to believe that Fredric Sheer cannot
find one POSITIVE message to send out to his
stockholders at this time of year.
We are all holding on by our fingertips !!
His leadership is lacking. Even though I am long
and holding a lot of shares, I must speak out.
PLEASE REDEEM YOURSELF MR. SHEER !!
OMO
Don
Excellent point.
However, would be a great idea to put a message
on their voice mail service that states they are
off for the holidays, etc.
OMO
Don