That's a good question. I didn't listen to the last CC, but Gaspard I heard that they said the debt was "written off. Sounds like they basically said the debt is not their problem. If they are filing with the SEC, then the SEC will have to approve that for the S-1 filing.
The old management needs to show something for it or it's written off like they lined their pockets with it. Collateral or receipts of some kind or it's not our problem anymore.
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