Replies to post #13803 on BioNitrogen Holdings Corp. (BIONQ)

[TFletcher]

Hi, swikey, that's what I'm expecting to happen, but we smaller players will not be needed.
I suspect that such a loan is already in the works.
Those who might be interested in making the loan, probably insisted upon the Chapter 11 path to protect their interest.
I'm just guessing based on what I've seen before.
If there are parties prepared to loan say 5 or 10 million, it will be contingent upon the bankruptcy court placing a priority on their loan.
If a bailout loan is in the works, they are not going to transfer the funds until the court guarantees them a priority position ahead of all other creditors.
Again, I'm just guessing, but those are the terms that I would insist upon before making such a loan.

[peafunke]

Interestingly I thought the same thing. I would kick a $1K or $2k to save this thing. But I would need to see a little more of the planning etc or at least some timeline that was in the works.

Funny. I just thought if I brought it up I would have been laughed at. I'm not laughing. We've come a long way swikey.

[doubting]

I new a long time ago that something wasn"t right with this company. But now with the events that have happened it is very clear to me at least, what went on. Brian K and some investor friends hatched a scheme to take over this company using this anon
loan thing. The smartest thing Carlos could do was file chapter 11
because this will protect their interest until they can sort out any other illegal activity BK and friends conceived. You read Ron11 message that other lawsuits would be filed, so this way at least they can do the investigation. I hope like all of you this works out, but time will tell.

[Richard2112]

Swikey, they are looking for money...

http://www.bizjournals.com/southflorida/news/2015/11/04/bionitrogen-holdings-files-chapter-11-bankruptcy.html

Miami attorney Robert Charbonneau, who is teaming with Jacqueline Calderin to represent BioNitrogen and its six affiliates in bankruptcy court, said the company intends to restructure its debt and leverage the significant value of its intellectual property. The Annon Consulting loan used its intellectual property as collateral.

“The idea is to find new money or a venture partner and exit bankruptcy as quickly as possible,” Charbonneau said.