Replies to post #4855 on NIR Group

[stockmasterflash]

Notes payable

go to zero. Judgements payable goes to $8 million. Total liabilities remain the same

This is the balance sheet of IGNT who settled their collections lawsuit with NIR

http://www.otcmarkets.com/otciq/ajax/showFinancialReportById.pdf?id=47528


LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities
Accounts payable $ 3 24,326 $ 36,320
Accrued expenses 9 64,314 651,092
Officer's loans 7 43,422 734,114
Deferred warranty revenue 1 ,950 4,727
Judgment payable 1 ,924,522 1,936,134
Convertible notes payable, net of unamortized discount 1 ,183,240 856,612
Total current liabilities 5 ,141,774 4,218,999
Long-term liabilities
Convertible notes payable, net of unamortized discount 3 4,018 12,888
Derivative liability 1 ,720,451 1,280,723
Total long-term liabilities 1 ,754,469 1,293,611
Total liabilities 6 ,896,243 5,512,610