Asia Broadband Inc (AABB)

[condor1]

Under the O/S required guidelines, the debt by way of shares will never be implemented/paid off. Such an event would violate the A/S and O/S. This would be a violation of SEC rules, as AABB is a US Stock and Company.

While even most longs believe that the W/C arrangement is toxic to both the shareholders and the company, the company must adhere to SEC rules, even if not required to file SEC based quarterly reports.

Personally, I would file a lawsuit against W/C if I were AABB with the defense of unconscionability of the contract. But I cannot see the contract or the actual arrangement of the contract.