No honest or sane willingly borrows $50,000 and then 4 months later pays $71,000 to the lender so that he can pay off the note early. Keeping the money longer would allow for the loan to be cheaper.
Obviously it wasn't paid off willingly. Either that or default provisions were purposely triggered. Remember what triggered them:
Paying off Sand Early. They didn't need to buy Sand's shares. He had no way to sell them. So Sand was paid off early causing the loan to be called early at a hefty penalty.
Something don't add up here and it's likely in the 10K that has gone missing. Remember the claim that there really aren't 1 billion shares convertible? That it must have been a typo (twice) Don't hear that claim anymore. They didn't correct it and we haven;t seen a list of notes since last Fall.
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