Ryan Schadel has NEVER definitively laid out what the "cash agreements" have been with all of the late notes he has. He has only alluded to what note holders "might" accept as settlement and has been calling it "cash agreements" and forbearance agreements interchangeably. Considering how many "promises" have been broken with regard to conversions in the past 6 months, Schadel is either officially in default or misrepresented or both.
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