Allegiant Professional Business Services, Inc. (APRO)

[naturalborninvestor]

DFCO: The company apparently had convertible debentures outstanding ("toxic financing") and was liquidated at same point to debtholders.

Looks like "standard" procedure. I can't see the relation to APRO! Just because there are shareholders complaining on the DFCO board about assets that "disappeared" doesn't mean they are right. Debtholders as a matter of fact have preferred claims to assets over shareholders...


7.01.

Regulation FD Disclosure

Satisfaction of Lien

On or about September 10, 2007 Dalrada satisfied the Longview Fund’s and the related debt holder’s (together called the “Debt Holders”) Lien on its assets which was filed as part of its February 13, 2006 funding. The transfer of Dalrada’s assets to the Debt Holders was also completed on or about September 10, 2007. The consideration given for the transfer of Dalrada’s asset was the elimination of $7.4 million in convertible notes held by the Debt Holders (see below schedule). Concurrently, Dalrada withdrew its Form SB2 filed on January 31, 2007 which was registering the shares underlying the convertible debt

Dalrada does not have the resources to satisfy its remaining outstanding claims and is therefore evaluating its options including the declaration of bankruptcy, obtaining capital from other sources and other strategic alternatives.