I don't have a lot of clarity as to how these notes are ascertained and how they are paid off? If it were a simple matter of paying the note with cash, as Veal alluded to in his June FB post, I'm not sure of the hesitation to pay it off. I would think these toxic folks can run any amount of interest and/or penalties on these notes, making the original note much higher. As they are not paying it off now, I can only guess that the 500K note, which they mentioned along with interest and penalties could be double that.

The company says they've already been paid back? How? Did they have shares and dilute them? Are they looking for more shares now so they can dump them into a run? If the case is that the toxic financiers want shares, I can see the need to hesitate filing as an audited report, and loss of the stop sign will create a strong north move. If the toxic folks about multi millions, they'll dump right into that and crash the PPS through the floor. This is the only theory I can come up with for a reason that HJOE would hesitate in filing.

Ultimately, I think they owe a lot more to these toxic filth. The problem is, they put ink to the paperwork and signed on. It's now up to Veal to figure a way out without hurting the PPS and SH value.

If someone has more concrete knowledge in how these toxic loans work, I'd love to read it.