Beyond Commerce Inc (BYOC)

[JoeBert]

Because he is about a selfless CEO as you'll find in the OTC.

He forgave over $8M in debt owed to him by BYOC.

$8M > $1.5M

On July 28, 2011, a judgement with civil case number: 2:08-cv-00496-KJD-LRL was entered in favor of George Pursglove, the Company’s former CEO, from his counter suit against BOOMj.com, a wholly-owned subsidiary of Beyond Commerce, Inc. The judgement was in the amount of $20,775 for damages as to the claim for failure to pay wages, $3,000,000 for damages as to the conversion claim and $3,000,000 for punitive damages for a total of $6,020,775 (the “July Judgment”). The July Judgment accrues interest at a rate of 5.29% per annum. As of December 31, 2019, the total amount of principal and interest that was forgiven $8,360,244.

This debt was forgiven during the third quarter in the amount of $8,360,224 as the estate believed there was no future value on holding this judgement against the Company and felt that the elimination of this significant liability may provide better avenues of funding going forward.

Beyond that, what has he done to earn it? Kept the company going after his father, the former CEO passed and all the while, taking a salary accrual for years. He could have sold the company, but didn't want to screw the long term holders and recognizes that there is value here.