Was that how the Korean $5,000,000 debt was handled? By them receiving 30% owership? If so, I'm glad that is out of the way.
The only thing left that I can see is resolving the debt outlined in msgs #65351 and #65220. If these are true (I have no way of knowing), then the recorded judgments and liens on file are over $3,000,000. Has anyone check this out? Is stock used to satisfy these if they are true?
Also, Seaam comments in message #68996 is somewhat of a concern. I'm not a lawyer so I don't know if his comments are true. Personally I can't believe that it can be that easy to force an involuntary bankruptcy.
"my self and other creditors I know will not accept Restricted shares or shares of any kind for their debt. They intend to take this company into involuntary bankruptcy if a payment of cash is not made. What else can be said except that with judgments on file now, that cannot be disputed, it only takes three creditors to petition the court. Defaulted judgments are already on file and this has allowed Peter and Company to dispute the claims, which were not, and thus Peter has already had his day in court and the opportunity to tell his story via disposition. Peter has already forfeited his rights for a voice in the court. The day of reckoning is coming. In other words Peter and Company, shut up with your lies, this is going to be stuffed down your throat.
"And it is my understanding, that shareholders are last in line for a bankruptcy...in other words...your ownership shares become completely worthless. Bye Bye....it was a known risk of investing in this penny and not exercising your right of shareholder corporate governance."
Does anyone know the validity of these statements?
