SIRG's operating costs of over $80K /month are exorbitant to say the least. If the CEO was serious about financing the company instead of his $12,500 /month salary and $5K per BOD member for every meeting held, maybe I would view him slightly differently. He has sat back and done nothing while drawing $12,500 /month. Why work when you can do nothing and make money off of the shareholders???
Grand View was in the position to force SIRG to accept any terms they wanted due to the fact that SIRG blatantly ignored every term within the notes provided, and I believe they did just that. Is it normal for companies to take out over $300K in notes, and never comply with a single term of the notes? That is simply unacceptable!
As far as the BLM interview is concerned, it is being used to try to take peoples eyes off of the bigger issues like Asher dilution, the Forbearance terms and what will happen if they default on ANY of their payments to their many financing companies.
Considering the amount of time it has taken to get the MPO alone through, with the BLM opening it the second time, it is HIGHLY UNLIKELY that they will be able to get anything through the BLM without a long waiting period.
