Itronics Inc (ITRO)

[twilko]

"Expunged means erased dude."

Exactly! The notes have been erased from the liability side of the balance sheet of Itro. This is a normal accounting function when notes are erased, expunged, or canceled.

The notes written on the balance sheet were not business contracts, nor were the business contracts eliminated or expunged. An 8k was filed. Here it is again.

http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=7532401

The contracts were replaced by the settlement agreement. We do not know what the terms of the settlement agreement are, nor has it been published. Neither were the terms of the original contract. The settlement agreement replaced the original contract. They say that NIR can accept either cash or shares. I do not think it is up to NIR whether to accept cash or shares. That is up to Itro. They are in the drivers seat on that issue.

PS. The drivers seat is the one behind the steering wheel.