Endonovo Therapeutics Inc (ENDV)

[John_Vallay]

They don't have any cash
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.