Precisely.
Why would Ed, who lived for some two decades off of money borrowed in Medizone's name, and who also amassed some $40 Million in accumulated debt, leave Esposito with a very bad hand to play and then a few months later turn around and suddenly join forces with 2 other creditors in April, 2018 to force Medizone into involuntary bankruptcy, in part for financial sins committed prior to 2009?
This logic seems absurd in the face of the fact that in April, 2018 there was no money in Medizone's bank from which creditors could be paid, and on the eve of completing an S-1 registration and a May 30,2018 share increase authorization.
IMO, Ed did not want the S-1 to succeed so he collaborated (conspired?) with 2 other creditors to use the S-1's "no bankruptcy" clause, and a $15,000 legal fee, to "nice and legal" rationalize and justify what amounted to firing a one bullet Medizone kill shot.
There had to be a behind the scenes cockpit struggle going on between Esposito and Ed for control of Medizone's finances/financing/future and in the process Ed crashed Medizone into the ground.
Importantly, Ed had to then scramble to put $200K together to just keep the Medizone lab alive, ironically choosing to earlier not use the same $200K to keep Medizone alive until it could complete its S-1 and share increase authorization processes.
As a result of all this, Medizone also lost also lost all its marketing and sales momentum, connections, relationships, image and trust. Beyond that, there remains the lurking question of even if the lab efforts succeed, could Ed's forced bankruptcy actions against Esposito face relationship resentment and foot dragging within the FDA because of pro-Esposito bias.
Ironically, Ed and his two involuntary bankruptcy co-filers have so far received not one penny for their destructive April, 2018 efforts and may not do so for an indeterminate time and at unknown discount.
In the meantime, Medizone could have been moving AS forward towards commercialization and its creditors accrue a better chance for repayment.
Ed's was an unnecessary and Pyrrhic war against his own company and Esposito. He could have chosen a far more constructive path than that of mortally wounding Medizone and transforming we its innocent shareholders into collateral damage and permanent financial victims to the tune of collective losses in the tens of millions of dollars.
Was all this worth it?
I resentfully say Absolutely Not!
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