Replies to post #47 on Adfitech Inc (fka ADFT)

[Olmsted]

Wow, only $932,000 worth of notes were tendered. The company offered to purchase up to $5,000,000 face value:

During the second quarter of 2012, the Company made a Tender Offer to purchase up to $5 million aggregate principal amount of our 8% senior notes payable. The price range of the Tender Offer was $650 to $750 per $1,000 principal amount of the Notes. The Tender Offer had an original expiration date of June 15, 2012, which was subsequently extended to July 13, 2012. As a result of the Tender Offer, we repurchased notes payable with a face value of $932,000 for $641,000, resulting in a gain on senior note repurchases of $291,000, before direct costs associated with the offer. In conjunction with the Tender Offer, we solicited consents from the note holders to certain amendments to the indenture that governs the notes. Because we did not obtain consents from the holders of at least a majority of the outstanding principal amount of the notes, no amendments to the indenture will be made.

Bond holders: what were the proposed amendments for which they were soliciting consent? I don't see them in the PR around the tender or in the quarterly report.