Green Parts International Inc (fka GNPT)

[Vector93]

First of all the SBA is a small business loan from the federal government. They are not interested in this guy's shares. They want their money back, with interest.

Of course they lent him the money on collateral, that's how loans work. Do you have a mortgage? Your house is the collateral. This isn't rocket science.

Last, the par value of all these convertibles is .001, which means 2 things:

1) the trips are history. If it goes to the trips, no one makes money and that's bad for the convertible lenders.

2) issuing 33,000,000 shares only adds $33,000 to the convertable debt, which is easily within the payoff range of the $3,900,000 that was explicitly used (as stated in the 8K) to pay off and restructure convertibles.