If y’all recall, I said they should grow barramundi in Iowa for cash flow while they perfected shrimp in LaCoste Their barramundi overhead (debt service) was 25% of what VeroBlue was supposed to service
Franny. First business judgment defense. That is an affirmative defense which I agree. No one will sue them on that. The purchase of the Iowa facility was a business judgment. Plain and simple.
As far as the perfect storm. It's actually a simple storm. Little production, failed SPAC, dwindling cash position and debt that is not being serviced.
On the Series A fiasco, I would be concerned about someone piercing the corporate veil. Probably fails but not on summary judgment
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