You are going in circles here. $6 million in debt is destructive and all companies carry debt. I don't think $6 million of debt is so destructive. The company was carrying that debt, had a small float and was trading in the 2 cent range. Investors knew that debt existed (I being one of them at that time). But, the Costa Rican wind project was the remedy for that debt, so was acceptable.
Flippers were trading this? Go back and check the volume before the debt conversions. Flippers showed up after Tarpon came on the scene. And I believe (speculation on my part) that debt holders sold that debt to Tarpon when they realized the faux pas of STLK sticking their nose in the elections in Costa Rica. The whole basis for the investment/gamble of STLK was based on the wind mill project in Costa Rica. I don't believe that was a scam, they just screwed it up by making some political enemies in Costa Rica.
And here you go again. Twisting words and using semantics. It is near impossible to find a company that does not carry some debt. Perhaps I should have said existing toxic debt so you would most clearly realize what I was saying.
You want to flip this? More power to you. You think the company is generating revenue? I'm sure we would have seen a PR by now about the first contract. Asher is out? Seems, according to the filings, they are still holding notes. Notes they can convert without filing a 13G/D if they hold less than 5% of O/S at a time. And speculating that a R/S is going to happen is, in my opinion, more reasonable than thinking it won't happen.
Spin it anyway you want.
Just one more thing. The SEC sanctions. You are right. The charges are still valid. Seems Hicks has demanded a jury trial, in hopes that a jury would not understand the law as well as a judge. The outcome of that is still to be determined. But a finding and a fine by another ruling authority, that has not been appealed, by the way, should give you a hint as to Hicks and his methods. And those methods are in play with STLK, until he milks it for all it is worth.
Those that enter with certainty, soon realize doubt; While those that enter with doubt, will discover certainty.
