Here is one way the seller of the mill interest could rationalize that it was a good deal, even if the interest on the note is less than the profits being produced by the asset given up. Let's say the mill interest was being carried at $50,000. When that interest is "sold" for $250,000, that produces a $200,000 profit on paper. The seller gets no cash, but it still allows them to claim a $200,000 profit, even though the sale proceeds are all tied up in a note. Since the note is convertible, it is almost certain that Zoloto will be seeing dilution. The seller of the mill interest might even get more than the sales price by selling the converted shares, depending on the price of the conversion. Some pinks engage in these shenanigans. They can sell things and get no cash, but they claim a profit on the deal and say they were profitable. I can't say what happened though, since there are no audited financials and Boca Bob denies any connection with Zoloto.
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