El Biatchio .....How come almost every post I've read of yours is a negative on other stock boards?
My guess is that just like your post ( the selective portion) regarding the 8K which connotates negative) that you may be a boiler room MB poster. Huh?? Maybe ? Okay - JMHO, I ain't sayin' I'm just sayin'!
Now on to my next point!
Interesting how it doesn't say who the note holders are. Is it Meller and Roth? The value of their 10 billion shares ( 5 bn a piece) are .00001. They can convert their 2 preferred shares upon written notice all the way up to the Mandatory conversion period.
I would think if the value of the company goes up they would rather hold a piece of the company seeing as they got it for pennies on the dollar!
This isn't as userious a deal as was YAGI IMO ....At least they aren't under a CD finance agreement where they are forced to pay in shares for everu payment they miss.
Who ever the lender is is a part owner and will make at least 7% on the loan. Probably a whole lot more!!!
If I'm a lender and I opt for piece of the company in lieu of payment that must mean things are going a helluva lot better than anyone expected here!
This is direct debt financing with a piece of the company as the security as opposed to debenture notes.
The commercial rate 7% is very good and in turn they get a piece of the pie if they decide it is going good!
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