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Saturday, October 03, 2020 9:39:24 PM
Cleaning up the mess for a good lawyer(s) is "child's play". The issue in cleaning up a mess is to see the potential of the “mess”. The one with the business sense here sees the value, (that is why we still hold the commons).
I also believe JD saw the value as well, because I can assure you, if it was only worth a $1MM as you have posted several times, JD wouldn’t have offered $500K and taken on the role of cleaning up the “mess”. Anyone who believes that isn't sitting here in this stock.
The problem with cleaning up a “mess”; you need someone at the table who can see the potential of a broken asset.
Given the plan that Auctus presented over JD is a great example of a business mind sitting at the table......I'll bet JD did not see the Auctus plan coming. Even the judge praised the plan….I wonder how many BK plans the judge had seen, to have him make a comment like that?
When the note was called due and the BK was filed, it started the clock and would not have given many companies the opportunity to dig into the "mess" in any kind of meaningful way. However, the note holders did have the inside track, since they had already done their DD, prior to making the loans.
The two parties that had the upper hand here were the note holders. They had the inside track and understood the potential better than any pharmaceutical company could have ever had with the clock running. Additionally, the pharmaceutical companies would not have been able to complete their Due Diligence in order to meet with any board approval.
Isn’t it great, they out foxed JD’s legal team, not bad for a “Penny stock financier”
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