Yorkville's Debenture
The asset security for the Debenture is their option of shares. Your remark is unfounded, because of the SEC has any issues that Yorkville may or may not have with them. This has little or no bearing on the issue of the debt. It's sort of like a foreclosure and a strong person holds the mortgage. It makes no difference who the entity is if you owe the money.. YA can convert some or all of the debt to shares and they can be held sold, merged or dealt with in any manner of ways. However, the shares (not even discussing the warrants), alone, represent 2 bn SVMI shares for the amount equal to the original debt contracted for Plus interest and penalties of the outstanding amount is the math. Since the original amount was for a greater amount then actually funded there will be negotiations on the number of shares plus or minus the unfunded money , plus the accrued interest and penalties on the total balance. This, of course, will be what has to be resolved. Whether YA wishes to just hold the shares and direct the company, take it over or run it though a new board remains to be seen.
Your opinion whether Serge Monros wishes or is obligated to the shareholders to account for the companies present situation remains to be seen. Public opinion is there for all to see. The OTC "Stop" order pretty much tells the general public the SEC's position on trading shares. Their next move would be to "Suspend" trading then De-list the company altogether. This is only a penny stock company and unless there is to be found some serious fiduciary breach or other reason... that is not going to happen right away. But that's our take on SVMI. Serge is playing the waiting game with YA and wants them to go the brink of the warrants expiring..and for YA to make the move.Meanwhile, interest and penalties mount daily!
I trust this clears up the matter.
IMO
AI
