Tonner One World Holdings Inc (TONR)

[Voices of Reason]

So much for protecting shareholders from the toxic lenders...

On or about February 19, 2015, Gel Properties, LLC (“Gel”) filed a complaint against the Company in the United States District Court, Southern District of New York alleging, among other things, breach of contract, anticipatory breach and conversion relating to a convertible promissory note in the original principal amount of $50,000. Following various hearings, on May 12, 2015, Gel and the Company entered into a stipulation and agreement of settlement, which agreement was filed with the court, whereby the Company agreed to pay Gel the sum of $98,000

On February 11, 2015, LG Capital Funding, LLC filed a complaint against the Company in the United States District Court, Eastern District of New York alleging breach of contract, anticipatory breach of contract and conversion relating to three convertible promissory notes totaling approximately $186,158 in principal and accrued interest. Following various hearings, on August 7, 2015, the Company was ordered by the court to pay $296,086 in settlement for breach of contract on the three convertible promissory notes

So the end result of this "kick the can down the road" tactic to protect shareholders from the evil toxic lenders resulted in even more dilution to pay what they originally agreed to plus substantial penalties, court fees, etc.

Wonder if the $416k due WHC will eventually equal the sales ($850k) planned for the year after the judge slaps OWOO silly? BTW...update on that one - depositions were scheduled to be completed on 8/15.