As an eblc shareholder, I signed up to be the moderator of this board when they announced the pending deal with AFA. Before the PR I never heard of AFA. Since they have taken down the eblc website, I decided to fill up the I-box with information from AFA. This was done, admittedly, without any real knowledge of the nature of the relationship between the parties. We will try to structure the Ibox to better represent the relationship when the information becomes available.
You are correct that eblc is a fully reporting company with no money and a pile of debt (~$528K) and are currently late with their 10Q. They did file their annual report on 5/22 but only after letting themselves go on the pinks. I have no idea as to why they did this. At this point, any information obtained from the companies would be greatly appreciated. I have calls in to both parties but so far I have not received a response.
I did find it interesting that there was no mention of converting the debt into shares only that it the "shall bear interest at the rate of 7.25% per annum until judgment is paid."
As for the deleted message, it was removed by the IH Admin. for being "off topic"; it is not a post that I would have deleted.
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