Skunk, any idea on the debt conversion specifics? Non restricted and able to convert ASAP? If redwood management debt deal is similar to hanover deal ......oh boy!....
".Redwood Management LLC Debt Assignment
On August 5, 2013, the Company was notified that certain debt holders had assigned and transferred debt agreements to Redwood Management LLC. as follows:
·
Frank loan payable in the amount of $200,000.
·
Two of the May 11, 2013 convertible debt notes holders assigned $600,000 of their notes and one note holder assigned previous advances $45,000.
The assigned debt agreements included principal and accrued interest. In conjunction with the assignment, the Company entered into a securities settlement agreement with Redwood Management LLC whereby Redwood agreed to acquire certain debt rights and along with the rights to common stock and conversion of certain debt securities assumed by Redwood in the aggregate of approximately $878,644."
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