Friday, August 26, 2022 9:38:33 AM
Leonite as other lenders will have to figure out a way to solve the current mess with Leon, before Leon decides to pull the plug or worst. The debt now makes the market value = to more or less 50% of yearly revenues. That is the issue to be resolve and parties will have to do it sooner or later. Alternatively, Leon gives up, shut down the operation and declare bancrupcy and everyone is a looser.
For Leonite to keep getting notes and fees is great for their own books ... FOR NOW ... but that is if Leon keeps giving in to their blackmail. Calling their bluff is something that Leon could do and he would lose much less than the lenders.
Serious negociations must come because TAKING THE DEBT OUT OF THE BOOKS, GRST market value is worth (minimum) 10 times current annual revenues ($ 50,000,000) ... pps of 0125.
Patiently,
Roger
Recent GRST News
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