Mobilepro Corp (fka MOBL)

[8-blacksheep]

YA Global was able to force the sale of Close Call America back in 2009 because the assets were "secured" for the debt. MOBL only receieved $2 million in the Auction Sale, which was just terrible for shareholders. I would thought Jay could have found a buyer who would pay more. But, the economy was tanking really bad at the time, so MOBL just got pennies on the dollar for its value.
All monies from the DAC lawsuit were also considered "secured" assets, so they too had to go off to YA Global.


My point made before is that the MLOG shares were not "secured" assets, and therefore YA Global can not just demand them without having to file involuntary bankruptcy.