Replies to post #253 on Big Tree Group Inc (BIGG)

[mcmike]

TNSX deal held up on Cornell negotiations

stay tuned
I don't think Cornell can profit from not letting them do the deal, but they are trying, (my hunch), to strong arm Stephen into more potsweetening to take them out via conversion into a note from a convert.

I was told this a.m. that the buyers are patient.

The Dec. PR was less than forthright in not declaring that main company debts were NOT being paid, just the debts of the Brazilian operation.

"assumption of $2.65 million in debt"
"This transaction will also significantly strengthen our Balance Sheet with the elimination of U.S. $2.65million of debt related to the Brazil operations"

from the 10Q for Q3: Liabilities
CURRENT LIABILITIES:

 Current portion of loans payable ............................................  $    423,286 
   Convertible debenture payable ...............................................       225,000 
   Accounts payable and accrued expenses .......................................     2,090,715 
   Due to related parties ......................................................       371,466 
   Warrant liability ...........................................................       137,165 
   Convertible feature liability ...............................................     1,263,359 
   Loans payable - related party ...............................................       276,945 
   Convertible loans - related party ...........................................       233,328 
                                                                                  ------------ 
  
      TOTAL CURRENT LIABILITIES ................................................     5,021,264 
 LOANS PAYABLE, NET OF CURRENT PORTION .........................................        18,391 
 ACCOUNTS PAYABLE AND ACCRUED EXPENSES, NET OF CURRENT PORTION .................       441,728 
      TOTAL LIABILITIES ........................................................     5,481,383 
  
 

http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=5292748