SPO Networks Inc (SPOI)

[Sparks100]

I have to disagree with you Blue12. Mr. Rhoades, the CEO prior to Walters, prior to Humphries prior to Chad, borrowed money from NIR. At the time that Humphries took over, the company at that time, in its prior name, still owed NIR 2.5 million, which debt was to be transferred to Walters company Monarch Bay. NIR agreed to the fraud perpetrated by Walters and Humphries, including the transfer of the old debt. But in the lawsuit brought by NIR, NIR sued HLNT for both the prior (that they agreed was transferred to Walters company), and the debt supposed transferred in by Humphries. NIR got nothing from Walters, nothing from Humphries, and a bunch of legal bills for trying to saddle HLNT with all the debt.

No matter how you look at it, NIR lost very big on this, but with regards to the rest, Walters (especially since his crony Humphries is bankrupt) is on the hook for the settlement amount, plus HLNT's legal fees, and any other damages that his violating of his fiducairy responsibility will result in.

By the way, only about 3 weeks left before the Texas trial. Walters better be gearing up for the embarassment that he is going to be facing there.