Regarding the relief that WHC is asking for in the default judgment includes not only their promised money back, with interest and attorney fees and punitive liquidated damages, but they are also asking for the court to order the company to be prohibited from issuing any new securities or debt until WHC is issued their 22.5+ million shares.
The way I read this is basically putting a freeze on the company ATM until they get paid off in money and/or shares.
Most curious is that about the time the company was engaging with WHC and Darling to settle debt, the Company announced new cash coming in the door in late October to settle the debt. Guess all that fell thru......
Delivering further evidence that the company’s business strategy will deliver shareholder value, OWOO has entered into an $800k private equity partnership with NY hedge fund, Blackbridge Capital. The company is on-track to consolidate and eliminate several large convertible notes this quarter as a result of the partnership, totaling over $415k and putting the company close to its 2014 goal of reducing total debt by 50%.
Wonder if the Company will now be making a "pre-Christmas" trip to NYC prior to Toyfair....
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