Fuse Science Inc (DROP)

[Tontis_Acheater]

Just received confirmation that Fuse default is assured. It actually was finished two months ago.

The new accounting firm brought in last month was retained to handle the asset security transfer.

The issue was Fuse actually defaulted on the $1.5m convertible notes from March but that agreement did not secure any Fuse assets upon default so the November 7th Convertible Note agreement was drawn up to secure 100% of the Fuse Science assets and expedite the transfer to the collateral agent MSLP. Notice those terms did not exist in the March deal even though the expiration date was still years away.

MSLP was chosen by the original convertible note holders to be the collateral agent and were given a $200K participation role in the transaction. The original March convertible note holders simply renewed their investment at the original participation level to account for the disposition and value of the assets.

Fait accompli.

Now you know why the distribution location was moved to the office and why the Walgreens effort is said to be delayed until beyond.

Fuse management has been quiet because they cannot comment until the official public announcement.