NoHo Inc (DRNK)

[Toxic Avenger]

Bastille was chief counsel on GNID when they used toxic debt to fund the company and eventually put it out of business. Now he's trying to turn it around and play the victim by attacking the toxic lenders. I don't believe he wasn't fully aware of how toxic notes work. And if as chief counsel he wasn't, well, that's probably worse.

You are absolutely right that without toxic notes, 90% of the pink sheets would cease to exist. These companies virtually all lose money forever and no lender will lend money they know is unlikely to be paid back. Toxic notes can repay 2,5 even 10X the note value by dumping shares on gullible retail buyers. High risk, high reward.

As much as stinky pinkies complain about being "duped" by toxic lenders, they know very well it's their only means of paying their own salaries.