Validian Corp (fka VLDI)

[Surwin]

For those that believe that the Ganthet deal is not a sham or the shuffling of assets amongst a shell company. read the following notes to the YE financials for the non cash Ganthet transaction of the $400,000 license fee.

Note 5.
10% Senior convertible notes (continued):

$400,000 in accrued interest through an exchange of $400,000 in accounts receivable.

So they wiped out the receivable from Ganthet by cancelling $400,000 of accured interest on the 10% convertible debt in default.

Note 11.
Included in 10% senior convertible notes (note 5) is $nil (2015: $518,949) payable to the director and to a company controlled by the director, and $nil (2015: $47,558) payable to an individual related to the director and a company controlled by an individual related to the director

The director is probably Bruce since there are no other directors and the the related company is probably Ganthet and the related party mostly likely is his daughter.