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Wednesday, November 22, 2023 10:25:33 AM
They have over $20 million in debt
Collier has taken as much as possible from shareholders through the issuance of convertible notes to funds at a discount to market
They don't need to legally file anymore as they are winding down operations and going away.
Collier will face lawsuits from the funds that he issued convertible notes to, but once a bankruptcy is filed the whole thing will go away. ENDV will be 0001 a share very soon and most shareholders will just be bitter and move on with their lives because it doesn't pay for most shareholders to pursue Endonovo legally and they will not get any cash even if they win a court case because the company does not have any cash to pay off.
Endonovo is a C Corp which means Alan Collier personally has absolutely zero liability for Endonovo's debt.
The only way Alan Collier will face any consequences is if one of those convertible note holders decides to pursue Collier personally for misleading and fraudulent business practices & press releases. I am going to imagine that the convertible note holders will hire a lawyer to determine if Collier has any personal worth that would be worthwhile to pursue in court.
If Collier personally has little to nothing than most funds that do these convertible notes will not pursue anything because it will cost them money for lawyer.
This is a classic case of an investment into a bad company with a low-life CEO, and just accept the losses and move on. Kick yourself in the butt for not doing proper due diligence.
Recent ENDV News
- Form 15-12G - Securities registration termination [Section 12(g)] • Edgar (US Regulatory) • 02/02/2024 10:23:02 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/03/2024 10:30:14 PM
- Form 10-Q/A - Quarterly report [Sections 13 or 15(d)]: [Amend] • Edgar (US Regulatory) • 12/29/2023 08:20:36 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 12/04/2023 02:08:41 PM
- Form NT 10-Q - Notification of inability to timely file Form 10-Q or 10-QSB • Edgar (US Regulatory) • 11/15/2023 05:21:48 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/12/2023 10:03:32 AM
- Form 1-A/A - Offering Statement [Regulation A]: [Amend] • Edgar (US Regulatory) • 08/25/2023 11:04:33 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/21/2023 09:16:04 PM
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