Replies to post #72389 on Intellicell Biosciences Inc (fka SVFC)

[Larry]

Thank God! This thing cannot end soon enough, but the 30th is good and close. Thanks, LJ. You have really kept a close eye on these legal documents and we all really appreciate you doing that and sharing with all of us.

[Srchn41]

The "Notice of Entry" was just filed today. If you read the order, Ironridge was ordered to turn over the NY shares within 10 days of the service of "Notice of Entry" of the order. That would be on the Monday the 7th of July at the latest. SVFC would then have 10 days from that "issue date" to hand over the Nevada shares (or the $91K).

Note that there was apparently no prohibition against Ironridge turning over the NY shares prior to the "Notice of Entry", which would have apparently, based on the order's wording, triggered the "issue date" earlier.

https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=3b5EfWUMXZgSnuJWGjQAAA==&system=prod

[BigBadWolf]

Thanks for proving my point & as I have posted/stated IR's first-priority security interest will be terminated upon SVFC handing over the facility fee although

Security Interest (has nothing to do w/ monetary compensation contained in the reserved rights contained within the original loan documents

Definition of 'Security Interest'

A legal claim on collateral that has been pledged, usually to obtain a loan. The borrower provides the lender with a security interest in certain assets that can be repossessed if the borrower stops making loan payments. The lender can then sell the repossessed collateral to pay off the loan. Granting a security interest is the norm for loans such as auto loans, business loans and mortgages; these are called secured loans. Credit cards, however, are unsecured. The credit card company will not repossess the clothes, groceries and vacation you purchased on the card and haven’t paid off yet.

http://www.investopedia.com/terms/s/security-interest.asp

as this ruling would NOW ALLOW IR to go after legal fees & monetary judgements as contained w/i the original loan documents especially under reserved rights as all along SVFC's case was about seeking a TRO & IR's was also about legal fees in trying to recoup the proper cert to cover the facility fee ordered by the judge & which Oing referenced & ordered in his ruling btw found here ;-)

SVFC must turn over $91,912.42 worth of immediately tradeable shares in the Nevada corporation based on the Nasdaq share price as determined by Bloomberg LP on the issue date.

The issue date is designated as the date Ironridge returns the worthless NY corp. shares to Intellicell (no more than 10 days after the notice of entry of Oing's order). In other words, in a little over 20 days max, Ironridge can dump the $91,912.42 worth of shares they get at whatever the price is on the issue date.

Alternatively, SVFC can simply pay the $91,912.42 in cash.

A clear Ironridge win here. Immediately tradeable shares and at the updated share price. & more to come???? ;-)

btw if still at the current price of 0.0017, that provides Ironridge with 54,0666,129 immediately tradeable shares. & if lower the more freely tradeable shares they get :-D;-)

https://iapps.courts.state.ny.us/fbem/DocumentDisplayServlet?documentId=zClLpeMhb_PLUS_Yuq8ac3e_PLUS_k4g==&system=prod

[cazual]

Basically IR is already extinguished...Lol!...all of their counters have been denied...the judge can't wait to say good riddance!
GO SVFC $$$$