You are criticizing me, moi, for posting factual information from the 10-K? :-)
You don't seem to understand. It is these (toxic or non-toxic) notes that drive the share price of small OTC companies. A lesson everyone should have learned by now. But I guess not. So unless you want to eat dirt for the next 6 months, I suggest they file an amendment to the 10-K sooner rather than later. Not to mention the problems ECAB must have with the description of the note in the 10-K, after they just settled their own.
And no, it doesn't matter one iota what Garrett tells someone in an email or over the phone. The 10-K rules.