Big Tree Group Inc (BIGG)

[mcmike]

The 3.2 million comes in the form of an upfront 800K and 200K/mo over 12mo. Cornell/Yorkville evidently would not renegotiate the terms of their position as a creditor.

I suspect (and it's only my suspicion) that they think tnsx is in default and they wanted to be paid off, right now, in full, or in shares that would totally dilute the stock price, and wouldn't sign off on the original deal which required their approval.

The refigured deal for 45% of the company removes one of their legs, the need to sign off on the deal, and now the lawyers will do battle.

I wonder if the SEC will support a small company with a plan to take care of their indebtedness to Cornell. In point of fact, I do not believe that TNSX ever received the second 1/2 (800K) of that convertible as it was tied to the successful registration of the SB-2 which never happened.

So they owe Cornell less than 1.6 million.