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Re: rsh post# 3357

Friday, 02/19/2016 2:46:20 PM

Friday, February 19, 2016 2:46:20 PM

Post# of 26235
Only to you. Toxic debt is the original, current, and future problem. The true problem comes when conversions can no longer occur because the company can't dump any shares, as it is today as referenced by your daily cash volumes. The fact that they can't dump is not good for anyone. There is no market, no interest. The debt, cash or shares, is still owed and growing. The current debt that they were forced to take on because of their inability to perform is even worse. So, the note holders can try to force cash payment and/or delivery of shares through lawsuit, which WSTI can't pay and other lien holders are in position ahead of them. Then, to protect their assets, the LOC decides to default the loan, with personal guarantees from Bates, and Indiana decides to default their loan, which both could do today, what happens? Bates, as most failing OTC companies do, has no choice but to try to RS, last ditch effort for survival, buy time and try to satisfy whatever paltry debt he can. Yes, the toxic note holder may lose money, but WSTI will have gone dark for that to occur. Debt doesn't get better or go away because of your inability to pay, nor do conversions, and it doesn't go away even after the company fails.
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