Tuesday, February 22, 2011 12:44:49 PM
Mahoney settled and opted out for 1/10th of what he was owed.
It looks like YA global will too. Why wouldn't they? They've already made gazillions here in shorts and free trade able shares.
Meller maks a loan to himself essentially in the name of the company. He has also aready made gazillions in profits from free tradeable shares as well.
Now why wouldn't he want to create a better reputation for the company on the open market.
He ultimately LOSES if he keeps going in the other direction!
If I were Meller I would forgive debt and take 1/10th of the loan payment. Why? Because I control this companies market and can sell into the market at whatever price I want ( to my knowledge Meller doesn't have a loan deal with a forced conversion price)!
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