Replies to post #44793 on Hangover Joe's Holding Corp. (fka HJOE)

[I-Glow]

Durand as you pointed out and the Magistrate agrees:

Notably, however, there appears to be no dispute that defendants entered four additional, nearly identical transactions with plaintiff during a two-year period.

In each of the other transactions, the debt incurred by defendants was satisfied through conversion to stock.

It also appears uncontested that the structure of the subject agreement provides plaintiff with the right to acquire restricted stock at a substantial discount from the market price at the time of acquisition, but that the plaintiff must hold said stock for six months, during which time the price may well fluctuate.

The HJOE squirrels really had no defense for the previous loans.