Monday, July 26, 2021 2:01:37 PM
A civil court decided literally 10 years ago that the family deserved it and they chose to forgive it after deciding that at no point in 8 years was it the "right time" for them, the company, or the shareholders to "go for it"
If you actually think this is ill-timed by Geordan to screw shareholders, I think you're wrong.
He's smarter than that and I think it's probably being done at a very calculated time for a specific reason.
Maybe he held off on it as long as possible to make the books look better, but there are going to be some material events coming soon which required he do this now, vs it being a more expensive task in the future.
If that was his goal to screw us, he could have just sat on the $8M and converted that, but again, he sees more value in keeping the company growing than a one time $8M payment and certainly sees a higher salary for himself than whatever $1.5M is amortized out over 3yrs (roughly $500k b4 interest) (2019-2021)
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