Thursday, January 17, 2019 7:02:16 PM
I was speaking figuratively when I said ANDR "sold" the patents. The reality is highly technical. I suggest you read the filings. There are several, and they are very complex. You have to understand how "PIK" notes work... spoiler alert! They aren't shareholder friendly.
I can give you the Cliff Notes version, however: They are structured so that shareholders will get nothing.
Here's the original agreement with "AND34 Funding."
https://www.sec.gov/Archives/edgar/data/6494/000114544314000190/d31067.htm
Only then AFTER Fortress (and partners) are paid off in full, will a portion of the cash trickle down to the COMPANY - not the shareholders.
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