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Sunday, December 03, 2023 12:13:39 PM
I will be adding this to the pending suit and federal and state agency complaint filings aimed at the Officers (not the company) and insiders that gave the past and current CEO this kind of control, if needed.
"The recent NY Court of Appeals decision, a decision that cannot be further appealed, reflects our long stated and correct legal position from the beginning that a convertible note is not only subject to New York’s usury laws, but the conversion discount (when the debt is converted to stock based on a mathematical formula presenting a discount to the trading price of a public company’s stock) must also be considered interest. The NY Court of Appeals also agreed with us and affirmed that a violation of New York’s criminal usury statute (charging interest 25% or over - Penal Law §190.40) voids such loans; the lender loses both principal and interest, that the loans are void ab initio and must be cancelled by the courts. "
This looks like the law firm to use:
https://www.thebasilelawfirm.com/post/new-york-s-highest-court-rules-convertible-notes-subject-to-criminal-usury-laws
This is all we need to force the current and past CEO to surrender the ill gotten shares they stole according to this court decision.
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