QED Connect Inc (QEDN)

[Greed Kills]

QEDN Quarterly Report is out.

Another lawsuit...not good. Currently, three pending against QEDN. Two were previously reported but QEDN just reported that Tangiers filed another lawsuit on February 1, 2017 to convert debt. Kate asserts a defense on the basis that the note was not approved by the board of directors. However, Kate doesn't state how much money QEDN took from Tangiers. Clearly, QEDN can't keep the money and invalidate the note. If the note is invalidated it would make sense that the money QEDN received would have to be returned.

Not sure how QEDN is going to pay back the cash it received or pay to defend this lawsuit with (23.09) in the bank. It would have been nice if Kate would have reported how much money Tangiers lent to QEDN and how many shares Tangiers claims should be converted. Converting at 0.0001 could result in many, many, many shares claimed by Tangiers.