This 40 million thing is confusing to me. You don't negotiate debt forgiveness after the deal is closed. You would have to be a complete idiot, and I mean idiot to assume this debt with the little income or real assets, and then try and negotiate after the fact. I'd like to think they're a little smarter then a 5 year old.
What you would do is pay the old owner like a million or two cash at most, the rest in stock at these low prices. If MMEG turns this around, he would be rewarded in stock. This negotiation after the fact is rediculous, and I hope we do not owe 40 million.
First and foremost for us shareholders, and secondly no company, including MMEG could stay solvent. I must be missing something obvious. I mean I thought it was just a formality to write it down on the books. Can any one comment on this, cause if there is this 40 million, it would be like 333k a month for 10 years not including interest. Impossible anytime soon. And agin why would you do a cash debt, no stock deal. Some one help me here.
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