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OverDraught

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OverDraught

Re: Golfgod post# 262526

Thursday, 03/20/2014 10:18:33 PM

Thursday, March 20, 2014 10:18:33 PM

Post# of 312020
Those checks are loans to the company. The loans are secured by a blanket lien on the company's assets. If Heddle wants to collect those notes he has to liquidate the collateral.

IMO, Heddle made the loan and took control as CEO in an attempt to recover as much as possible of his earlier investments in the company. I also suspect that he feels some personal obligation to friends and family who invested on his advice and he is trying to help them out, too.

That must be why he recently wrote cheques totaling 3 million to JBI.

"Where ignorance is bliss, 'tis folly to be wise." - Thomas Gray

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