Replies to post #37797 on Scepter Holdings Inc. (BRZL)

[The Cardiac Kid]

IP Motors Sports shareholders were paid five-hundred thousand ($500,000) in Scepter Holdings, Inc. preferred stock. The preferred stock holders will have the option to convert to common stock after one (1) year. Additionally Scepter Holdings, Inc. has assumed approximately five-hundred thousand ($500,000) in IP Motor Sports liabilities.



I read this as they got the company for 500,000 dollars worth which is now held in preferred stock. They also took on 500,000 dollars worth of debt from the company. Essentially the transaction cost a million dollars. The word additionally is the kicker in there. IMO

[threewheeler]

LMOA right who cares what they paid, the $500k toxic debt will push this to trips