Cobalis Corp. (fka CLSC)

[baramu]

Not much reason to read beyond this excerpt from court:

The deep misgivings recited
in the court’s Statement of Decision on Plan Confirmations entered 4/07/2010 about feasibility of
that plan have unfortunately proved all too prescient. Apparently, the millions in sales of
PreHistin® projected by debtor to be realized by now have not come to pass, not even nearly.

But if you do, it only gets worse. The two weeks is a move by the court to protect itself, giving notice to all interested parties in case there is a party out there interested in coming up with the millions required to buy this out. Not going to happen.

By the way, we were all speculating the Sterm's investments were going straight into paying the monthly requirement to YA. Apparently not. It says they defaulted on most of the those and would then come up with an amount at the eleventh hours just before YA would be able to foreclose. But they apparently didn't even come up with the full amounts since the court states that the debt it now even deeper.

Game over. Tax write off. As someone said, I think Scan, if something good happens it's just a pleasant surprise.