Freestone Resources Inc. (fka FSNR)

[RedShoulder]

I'm not too concerned about the default having serious consequences. Clearly it's not a good thing however I don't think that Cronin wants it back so my guess is he will work with the company. We shall see.

I agree; Cronin does not want it back; based on the fact that he could already done so if he did want it back (less the Pyrolysis machine), but instead is negotiating with the company. The Q also says they are seeking alternative financing more favorable.

From the Q:

"The Company has begun negotiations with the note holder to restructure and extend the note and is also seeking alternative financing."