Replies to post #254 on Industrial Enterprises of America Inc fka IEAM

[retired_by_31]

"But 'the liquidated damages and green shoe penalties were agreed to by the company in order to convince convertible debt holders to convert their notes into shares' seems unusual and excessive."

I agree. IEAM essentially paid $5,000,000 to dilute the shares, kill the share price, and destroy investor confidence. Not a savvy move on JDM's part, but I bet he was never going to tell us about it.

I wonder what happened behind the scenes. I bet Pike threatened to replace the whole BOD if not pursue SEC avenues, unless they removed JDM. Pike has too much too lose.