DO you believe Tom "thought" he could pay off the cd's and just "found out" he couldn't? Did his attorneys checking out the shell, his "brilliant" financial knowledge, etc not tell him at any one moment he couldn't pay it off with cash?
Especially with as much as he has done with YA with them helping buyout GSGF, etc.
Any brilliant buyout guy should know how to read a couple of debentures prior to making decisions to acquire a shell or company as he should have had all this paperwork in front of him. Tom did not make this mistake with just one debenture, but both debentures converted at .001 pps.
I believe honestly he figured he could "sacrifice" the SWVC shareholders to get rid of his failing "Wisebuys" as well as get the debt out of GS so they could take it private. All he had to do was pump enough to keep interest in it, so long as he was able to "increase intrinsic value" enough to make it all look good and allow the debentures to be converted.
NHSP, I would really like to see the actual debt acquired with this and financials on the company as I do not see Christopher Schwartz just letting someone acquire one of his companies unless there was an outside reason of it.
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