Replies to post #72663 on QSGI, Inc.(fka QSGI)

[jaxstraw]

I was thinking the same thing. It wouldn't surprise me to see another court action sometime down the road.
At this point everything in that financing agreement better go as smooth as butter or these guys will definitely look to take action.
If I remember right, weren't these two guys the guarantee of the loans also ?

On September 26, 2011, QSGI Green (the “Borrower”) entered into a loan agreement (the “Bank Note”) with First City Bank of Commerce (the “Lender”) in the amount of $564,775 to replace the Seller’s existing bank note. The Bank Note bears interest at 7.5% and has a maturity date of September 26, 2015. The Bank Note is primarily supported by accounts receivable and inventory of QSGI Green. The Bank Note is personally guaranteed by the two previous founding owners of TGG.

That ain't good.
Maybe they lose, maybe they win, but QSGI does not need another court case any time soon.

[jaxstraw]

Seems odd they'd quit for no reason.

There's something very odd here. I took another glance at the dates and the way this is spelled out.

On April 9, 2012 QSGI Green, Inc (the Company), a wholly-owned subsidiary of QSGI, Inc., was notified that Moshe Schneider and Avner Harel resigned from their employment positions at the Company.
According to the notification although they had continued to perform work for the Company from March 31 until April 3, 2012,
their resignation was effective as of March 31, 2012.

So these guys took 6 days to inform the company they were quitting after their last days on the job.
Then supposedly they work for three extra days past the 'official' resignation date "according to the notification".
I guess the company did not know they worked those days and needed to be notified ( but felt the need to include that particular phrase in the 8K).

Very strange.

Seems like a lot of CYA going on by both sides IMO.

[SurgeGuy2.0]

Wow, please provided a link to prove any such thing is going on. More like endless speculation run amuck IMO

Proves to me company moving along find and taking action to protect their investments for longterm growth, and they filed as they needed to do, something a scam would never do and pushed by some here.

Holding some here strong and getting ready to pull the trigger on the fears of others for some very undervalued shares, lol!

[jaxstraw]

Avner Harel, Moshe Scneider, The Gasket Guy LLC, and Green Energy Masters LLC have filed suit against Marc Sherman, QSGI Inc and QSGI Green Inc in Palm Beach County on 4/16/12.

Marc Sherman, QSGI Inc and QSGI Green Inc were served on 4/18/2012.

It's interesting that they filed cases under The Gasket Guy LLC, and Green Energy Masters LLC as well as individually.