Replies to post #2888 on China Dongsheng International Inc (CDSG)

[DreamGreen]

More companies should really go after these toxic noteholders. Going by this there is precdent now that anything over a 25% discount can be cancelled.

"The recent NY Court of Appeals decision, a decision that cannot be further appealed, reflects our long stated and correct legal position from the beginning that a convertible note is not only subject to New York’s usury laws, but the conversion discount (when the debt is converted to stock based on a mathematical formula presenting a discount to the trading price of a public company’s stock) must also be considered interest. The NY Court of Appeals also agreed with us and affirmed that a violation of New York’s criminal usury statute (charging interest 25% or over - Penal Law §190.40) voids such loans; the lender loses both principal and interest, that the loans are void ab initio and must be cancelled by the courts. "

https://www.thebasilelawfirm.com/post/new-york-s-highest-court-rules-convertible-notes-subject-to-criminal-usury-laws

[ob22]

“Great post. On what planet do you need to live on as a shareholder and think this old note should stay in place. Less than $15k principal debt and 300m in shares debt conversions. Go away EROP!”

[Tony Sylvester]

Time for EROP to face the music since he is not registered with finra.
He essentially could lose all the money he has made this year if someone presses the issue

[J to the C to the C]

Is EROP's Vince Sbarra making money off of shareholder's backs without truly believing in the company here? They need to lower that share count and restrict this BS selling for 2 years just like Mager. I think shareholders are ready to move forward with a resolution that this note holder may not like. A few phone calls regarding this situation would start the snowball rolling downhill.