DERBENSKI'S FALSE LITIGATION ALARM DEBUNKED
Here it is DERB. You asked and here it is, you DID in fact claim that there would be litigation brought by GGI against FCCN...
In post # 81226 you said the following:
"...the PR said that before the merger that the remaining GGI will be settled and don't see settlement at high prices. Who is most likely to settle the debt? My guess would be Sequoia International. Where would they most likely settle? Sarasota 12th district."
You allege above that GGI will bring litigation in the Sarasota 12 District. But they won't because they have no grounds as they've been fully paid.
10 K shows the debenture as being fully paid.
"Case closed. No apology needed."
I didn't ask you to apologize to me. I'm going to reiterate a simple question. Here is the question:
DERBENSKI, WHEN THERE IS NO LITIGATION BROUGHT BY GGI AGAINST FCCN, WILL YOU APOLOGIZE FOR YOUR ERROENOUS ALLEGATION?
Very simple question. Can you please answer that question?
The answer or lack thereof will reveal character.
As to the rest of your allegations--
There is no "leakage". You said,
"As I said before, there is a balance remaining as stated of shares not yet paid."
The debenture has been fully paid.
Nothing misleading about that.
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.
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. But you already knew that.
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 allegation in your series of posts on this topic about pending litigation. Since the debenture has been fully paid, will you now retract your statements and apologize? I don't think so. 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"
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
AI
