NIR Group

[stockmasterflash]

But the money is still owed

and the debt is now stipulated as valid via court judgement.

The asettlement agreement calls for payment of $8,018,325 payable in "shares of stock" beginning on May 4, 2011.

Both parties have agreed that a default will accrue at 12% interest and Itronics stipulates to a judgement against them in the event of default.

All other previous claims by both parties are dismissed WITH PREJUDICE

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I don't know how this is getting out from under Cory Ribotsky. You guys owe $8 million paid in stock, I assume at the original discount, and you waive all claims against CR. And you stipulated to the court that the debt is valid and you waive dispute against the judgement

Sure looks like NIR has you by the balls here and it looks no different than the result of every other time NIR went to court against a deadbeat borrower. They are sleazebags but their contracts are ironclad and ALWAYS hold up.