Digital Brand Media and Marketing Group Inc (DBMM)

[Jetmek_03052]

DBMM settled a toxic lending case on their terms for 50% of judgment and interest.

Is that "new math" Poo?

From the 2018 10K:

The Plaintiff alleged $337,500 breach of contract principal and damages arising from an untimely periodic filing in 2013. On September 14, 2014 the Court declined to grant the plaintiff's application for default judgment and Linda Perry was removed as a defendant. The Court awarded judgment in favor of the Plaintiff on July 15, 2015 in the amount of $122,891.87, which did not include $25,000 paid in a subsequent settlement in February 2016.On June 18, 2018 the matter was settled between the parties with an Addendum to the Settlement Agreement, for a final payment of $65,000 which was paid in full on the same date.

1. Asher originally wanted $337,500.
2. COURT AWARDED JUDGEMENT IN FAVOR OF ASHER on 07/15/2015!
3. On that date (07/15/2015), Judge decreased the amount to $122,891.
4. DBMM PAID $25,000 towards the settlement in February of 2016.
5. DBMM paid an additional amount of $65,000 on June 18th, 2018 to SETTLE THE MATTER.

Total paid to settle the matter was $90,000!

Is $90,000 50% of $122,891? I don't think it is.

Isn't $90,000 a little over 73% of $122,891?

Oh - and see the part where it says "COURT AWARDED JUDGEMENT IN FAVOR OF ASHER"???

That's pretty simple to understand. It means Asher WON. I don't care whether you paid Asher $1.
YOU PAID! Asher WON, YOU LOST.

And another thing? Because of Linda's STUPIDITY in accepting the terms of that death spiral loan agreement? Asher most likely made FAR and ABOVE the $90K you paid him in the judgement. His selling of DBMM's stock probably made him 5-10 TIMES the settlement amount, even before DBMM got themselves suspended for failure to file.