On4 Communications Inc (ONCI)

[BigBadWolf]

seeking clarity

if you take out the one-time costs for extinguishing the debt through the 3(a)(10) transaction.

as NO company is allowed to actually pay a 3(a)(10) guarantor (for providing this service). After the debt is vetted any guarantor(s) are then issued court approved shares buy the company (Berman/ONCI in this case) @ an agreed upon discount to market. then the investing public buys said issued 3(a)(10) shares. the profit margin is also set by the SEC/court/judge @ twice the debt amount amount presented to the court + discount.

hence how company debt is extinguished from the balance sheet

why does Berman file that he supposedly violated SEC Rules & Regulations as it relates to 3(a)(10) procedures by ther company paying out over $600k to Livingston Asset Management LAM

the investing public thanks any light shed onto this matter.