Replies to post #26401 on Eldorado Exploration Inc (fka EDEP)

[Ngas]

I'm no lawyer and have 0 experience in corporate defaults - however what happens to any & everything owned by EDEX (equip, leases, office, ie everything) when we default on the $190k loan outstanding?

One thing I do know is that equity is a lower tier on a corporate capital structure than bonds/loans...

(Disclaimer - my knowledge of this loan's existence is from one of D-Dog's posts. Seeing that he's spot on regarding everything else - I imagine his DD in identifying this loan is accurate.)

Thoughts anyone?

[dragon man]

if the well is successful, then we get money of share in next wells there. the question is i have seem pr out today on new well. tom was going write pr yesterday on the well when he hear what it was was. i talk to him a little after 12pm est yesterday. i thought the pr would be out, but i have seem anything yet.