New here and not the sharpest pencil in the pencil holder, so please forgive the simplicity of my question.
You quoted:
" The holders of the promissory notes shall receive repayment in the full face amount of the note from the initial $750,000 the Company actually receives from the net proceeds of its patent infringement claim(s) or from the net proceeds of a public offering."
Focusing on the"or"- couldn't this be construed as giving the company the choice of paying the notes after the patent claims are settled?
How do we know which side has the option of exercising the repayment terms option?
If it's the note holders, then the company is under pressure.
If it's the company, then the pressure is pushed down the road.
Am I misreading this?
Thanks- John
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