got that right nerd.....it truly is amazing the # of people that do not understand......this is NOT debt.....it is a liability that they will have to carry on the books.....i couldn't figure out why jon agreed to pay more than they were asking....then i saw it.....they were suing for interest......now there is none..one point for jon...iow GTEM can pay this whenever they want.....however LAWA can try to seize assets.....but anyone whoever has tried that knows what a complete pain that is and it cost money......iow i doubt LAWA tries anything for a yr.....at this point i don't think GTEM has any assets in cali.....so that makes collecting their judgement even harder......i have asked and i find it rather bizarre that the poster that want this company to die won't post it......i really can't find anything big.....just the 2 landlord things.....a couple mid size ones and serveral small ones......it just really ain't that bad...considering they don't have any money.....(note: this doesn't include the SH and the siegel, joe, and uli cases, GTEM actually has a counter case.....and in my opine its pretty good).....iow they have are will have judgements of about 500k-750k.....not bad....i was starting to worry that is was going to balloon over 2 mil.....also thats the judgements.....they most likely will be settled for .70 on the dollar......depends if GTEM ever wants to do biz with them again.
the problem with the JV is NOT money......its the P's are PO.......there really is a ton of info out there right now.....really thanks joe......just don't read his spin....he really is after revenge.
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