The ex-director won nothing.....
He did not "agree" to "let IFUS make payments on the Federal conditional judgment", as the Federal court judgement was conditional, and was set aside in a mutually agreed to settlement of the IFUS state court Suit against Adelstein and Joe and Absorbezz LLC and Energy Supreme,
and IFUS in spite of all the harm done to it by the ex-directors (according to the court fillings in the suit filled by IFUS) was nice enough to agree to drop the case and make interest free loan payments over 10 years, with no past interest, no future interest or late fees included, and agreed to let Adelsetin eat the 5 years of court costs and attorney fees he wasted. Something like $250,000 to $500,000 lost, wasted, in a futile, miss guided(?), failed attempt to take IFUS over.
Folks should take a look at the remains of Iach, that the SEC had to revoke the shares of.....and who was involved there? Hint it was not the IFUS CEO!!!!
He got nothing, and still has nothing.
The IFUS counter suit, filed in Broward County State court claimed and made very serious allegations against the ex-directors. Why did Adelstein drop the state suit against IFUS and accept a chump change loan repayment interest free to IFUS for 10+4 years instead of going to trial to prove the allegations made in the counter suit by IFUS were not correct?
Why did Adelstein say in his deposition in the Federal court case that he filed the second law suit, a RICO case (which the judge tossed out) much later in Federal court that he "filed it because he was losing" the earlier simple state court loan default case, where IFUS had counter sued basically claiming it was not IFUS's fault.....
Greed has its costs. Very sad.
Are the ex-directors still trying to buy up the IFUS OS for a take over????
Stolen property never belongs to the thieves!!!!
All of my posts are strictly opinions and should not be considered to be facts, or investment advise. They are for entertainment purposes only.
