WindStream Technologies Inc. (fka WSTI)

[Blizzld]

I have the LG vs WSTI Court Docs

I paid to download the Court settlement documents. I can offer some info based on reading it. Keep in mind I am not a lawyer.

It looks like a default judgement for the plaintiff (LG) was served to the company (WSTI)

The "proposed" judgement would be

$365,398 for two notes including the interest and penalties
19,125 for reimbursement of plaintiffs legal fees
475 for court cost reimbursement

As expected it was a monetary amount north of 250k. I think we estimated it could be $350k but the penalty portion was pretty large and brought it higher.

So this becomes another issue WSTI needs to resolve. It did not go the way the attorney expected at all with the fighting the convertibles based on NY usury law etc.

In any case, these are rough numbers but the "nut" that needs to be handled..

385K This courtcase settlement
1.7 million existing convertible notes to settle
2 million Import/export bank loan I believe with personal guarantee
APPROX 400-500K FOR FINANCIALS

Unknown amount of other bills/issues.

Currently ImpactPPAs stock ownership in THCT is worth approx 7.2 million. And efforts continue to land an investor group to fund ImpactPPA. If that happens some money might be able to add to the cleanup total available through licensing fee relationship with WSTI

I believe if Dan can land the investor group and this stock holds up (or if he was able to sell any in advance etc... it is possible to clean up but would take both things to happen.

I would take care of the 2 million dollar loan and the courtcase first. Offer 20 cents on the dollar and stock to the convertible note holders , get the financials done and let it rip. The upswing in price will get the rest paid back.

There is really no other way to do it. Left to be seen is if it is worth it to Dan to spend this much cleaning up WSTI or not. It might be important enough though because of the personal guarantee but also because the court thing could result in an attachment of assets (if not paid) that would be needed to continue even ImpactPPA in the way it was intended.