It would indeed. And then there's the question of the notes themselves. There's nothing in any of CRGP's financial statements about debt held by Nobilis or by Beaufort.
In its complaint, COR mentions the Industrias Calissio note from 2010. But that in itself is a problem. The company first explained about that note in the backdated financial statements filed in July 2013. At that time, it said the Calissio note was issued on 30 June 2010, the same day GIM gave Amarium, as it was then, a line of credit for "operations" at the mines. What operations? Amarium didn't even acquire any mining properties until 22 May 2013.
So was the Industrias Calissio note backdated? If so, I'd say that makes the entire transaction fraudulent, no matter when conversions were effected.
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