owl, you are right, in that judgements are difficult to collect... but it is easier on a public than say a "private" company or individual. The reason is because it is difficult to find a deadbeats assets(they usually hide them) or even prove they exist.
With a "public" company however, they are required to make information available. If a Press Release is ever put out saying the company has acquired financing, everyone holding the judgements knows the money exists. So at least one of the difficult steps "is" easier with regard to a "public" company. Public companies also have to list their assets. Many want the company to finally update their financials, I'm sure those holding the judgements want them to also.
Wasn't Edwards "the" Holy Grail for Sans2A whatever? That means the state of California. It means GlobeTel better not have a bank account there, or any seizable assets, and the Strat certainly fits that bill.
The most difficult problem these judgements present for the company is their ability to raise new money. To use your numbers 500k-750k is a lot to ask of a "new" investor/lender to pay in old, bad money before they ever invest a nickel in new opportunities. Not to mention it shows they would be investing in a company that has failed at everything they have ever tried.
And, how many new vendors want to deal with a company that doesn't pay their old vendors. Can you spell C.O.D... how does that work with no money?
AI
