Protagenic Therapeutics Inc. (PTIX): If the financial transaction that gave r...

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Protagenic Therapeutics Inc. (PTIX)

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Re: 10452km2 post# 96540

Friday, 05/11/2012 1:16:46 PM

Friday, May 11, 2012 1:16:46 PM

If the financial transaction that gave rise to the debt was one "at arms length", then it would have been standard legal practice to insist (on Bright Digital's part) that its loan be further secured by any and all equipment, etc. owned by Atrinsic. If that were the case, then Uniform Commercial Code statements would have been filed in the jurisdiction where that property was located. After pay-off of the debt, releases would have been filed by Bright. Those UCC filings are commonable searchable.

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