so it seems like we've already paid $1,523,563 to montecito, and they were owed cash of $1.5M. maybe it's the equity value being disputed in the litigation:
$3,675,000 for the common stock based on a closing price of $0.245 per share on the closing date
seems easy enough to fix, doesn't it? maybe that's why the r/s was done. if montecito is issued new shares, post split, perhaps this is all that's needed to resolve the issue.
from what i posted above, it seems they got all the cash they wanted, and as long as payments on the 500K note are being made, we held up our end of the deal. jmho.
oh, and YES, this does seem like seller's remorse on the part of montecito. i would think a judge is used to seeing cases like this in the oil biz.
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