Enzolytics Inc (ENZC)

[Dyno89]

This is going to be bad for SAGA / ENZC come Mondays court hearing it looks like.

Someone posted the updated docs from Pacer on the S****twits ENZC board.

GLD states that SAGA themselves admit not paying the August 23rd extension filing amount until October 2nd. And had never made the other required extension payments.

“Those undisputed facts mandated that Sagaliam begin to liquidate and wind down on August 24th, 2023, pursuant Sections 4.3(d), 9.1(b) and 9.2(d) of the Amended and Restated Certificate.

The Amended and Restated Certificate did not grant Sagaliam the right to make the August 23rd payment more almost six weeks late…”

Like I’ve said, Charles needs to get out ahead of this and announce a new financing direction by the 31st when he has the rights to terminate this deal.

The only way this spac makes it past this lawsuit is if they reach some major financial settlement with GLD. And they have no cash, so how do you all think they’d manage that? They’d have to pay in shares, further destroying us commons.

SAGA cannot otherwise win this suit. They defaulted on the spac deadline like some of us have been pointing out for weeks now.

This is the only relevant topic this board should be discussing at this point.