Q. What was that thing we heard about turbos debt ?
A.Some private guy called Mikey out of NY owns it. It’s an old NIR/AJW style note , probably written by schienzia himself. The note wasn’t lent by NIR It was originally lent by Foster Financial LLC in 2007/ 2008.
Regular it’s a toxic 50% discounted note, in default this thing could be accruing $5000 in penalties and 80% default discount.
Someone allegedly messed up some math when the Foster note got rolled up and ready to light originally a couple of years ago. The greedy piggies who had the note converted it 100% of it then realized that they were affiliated by size. So they put the debt back and cancelled the stock. Then we heard some crazy guy that claimed to own the foster note turning up outside Singermans house or office ,
I don’t remember which.
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