The debenture has been fully paid.
Nothing misleading about that.
Derbenski erroneously alleged that the following 10K statement filed with the SEC was fraudulent and that litigation was pending.
Here is what the 10K says:
"Accordingly, the accompanying financial statements reflect the debenture as being fully paid."
It is a simple statement, Derbenski. It uses simple words which have simple meanings. But let me break it down for anybody who may be confused.
Satisfaction of the debenture is a two step process.
STEP 1: FCCN pays GGI the shares held in escrow which GGI is entitled to be paid.
STEP 2: GGI sells those shares which FCCN has already paid them.
The 10K clearly establishes that STEP 1, the paying of shares from FCCN to GGI had been fully completed. Therefore FCCN has no further legal obligation to GGI. Therefore no litigation is forthcoming.
It was FCCN's legal obligation to pay GGI in shares. Once FCCN had released all of the shares to GGI which GGI was owed the the debenture obligation became fully and legally paid.
As the 10K so clearly states:
"Accordingly, the accompanying financial statements reflect the debenture as being fully paid."
You repeatedly made erroneous allegations in your series of posts on this topic about pending litigation.
You said:
"So while the financials say fully paid, Peacock, speaking post annual report, talks about remaining balance and settlement...
Given this new information, which is most misleading"
There's nothing misleading about it.
Since FCCN has fulfilled its legal obligation by releasing the shares out of escrow to GGI, the 10K is correct and FCCN has no legal obligations left to GGI.
The "remaining balance and settlement" which you quote only concerns the matter of whether GGI had sold its remaining shares, a $27000 pittance according to the 10K.
Bottom line:
GGI has no basis for litigation against FCCN because, as the 10K clearly states:
"Accordingly, the accompanying financial statements reflect the debenture as being fully paid."
Here, read it again,
"Accordingly, the accompanying financial statements reflect the debenture as being fully paid."
One more time
"Accordingly, the accompanying financial statements reflect the debenture as being fully paid."
Buh bye, Derbenski
[My posts on this topic have been removed. I have now rewritten my response to DERBENSKI and have removed anything that MODS might find objectionable, but I do not believe I posted anything that violated TOU. I want to know which MOD remove my posts. ]
