Seaniemac International Ltd (fka BETS)

[SeaWA1956]

The senior lender takes possession of the preferred shares (have to look as I can't remember if it is Class E) that gives them voting rights over all preferred and common shares. They then have the power to reduce the preferred shares (RDRD II and Brookstein) shares to rubble and Reverse Merge the BETS shell. They have already taken possession of the Seaniemac Int shares that were owned by Trautman, Shane O'Driscoll and others).

Bottom line is they loaned Seaniemac a bunch of money. Seanie made some bad bets and didn't pay the UK punter and SGS/Optima closed down the betting site which made it impossible to pay back the senior lender. I believe they tried hard last summer to negotiate a deal with SGS/Optima to start back up but that didn't work out. I have no idea if they have finished the UK foreclosure but I've heard Brookstein is in hiding and Trautman is off the renovate more restaurants in Beacon NY with his wife Evey Trautman.