The debt is most certainly NOT paid off.
Yes, the lender agreed to a debt-for-equity swap. So please explain how shares converted at a SP under 0.0001 can pay off $14 million debt, starting in December 2011, when there are only 5 billion shares in the A/S? That is only $500,000 of the $14 million, AT BEST.
All we have is conjecture because this company stopped filing with the SEC, does not have an office to visit, does not answer phone calls or emails, and does not have an IR Department. If your reasoning tells you that this company is being taken over and resurrected, fine, buy all the shares you can get. It's a once-in-a-lifetime dream jackpot, if what you are saying is true.
Curious, though, that only two people believe the takeover rumor, and they apparently already have all the shares they want, because nobody is buying and everybody else is selling.
