Replies to post #50275 on Grapefruit USA Inc (GPFT)

[stockmasterflash]

a lender was "convinced"

that it is a better deal to forgive $600,000 of debt at 3 times the current market price rather than simply buying $600,000 on the open market or buying $600,000 directly from IMGG at 5 cents per share like every other lender to IMGG?

But remember, Sohn was one of the 3 individuals who were a party to the press release promising to BUY IMGG shares. Not SELL IMGG shares.

And yes, cash did change hands. At some point Sohn got $631,950 of REAL CASH and later disposed of 3 million shares to make that debt go away.