Posted On: 12/09/2015 11:25:45 PM
Post# of 15187
Seems there's a leak somewhere
would rather have them fight a legal battle and make the lender prove they were damaged by a contract breach and force them to defend themselves against bad faith negotiations. The company obviously is getting money from revenues or VC. They should owe @$500K on the remaining CD. If their revenues for 2015 are in the $1-2MM range - they should have cash to put a serious dent and/or eliminate that debt and still secure attractive capital. Are the CD holders not willing to accept a payoff? Because the contract calls for shares and $3K/day penalties? 8f they refused a settlement offer or terms that the company entered in good faith - I will put my money on the company coming out ahead.
would rather have them fight a legal battle and make the lender prove they were damaged by a contract breach and force them to defend themselves against bad faith negotiations. The company obviously is getting money from revenues or VC. They should owe @$500K on the remaining CD. If their revenues for 2015 are in the $1-2MM range - they should have cash to put a serious dent and/or eliminate that debt and still secure attractive capital. Are the CD holders not willing to accept a payoff? Because the contract calls for shares and $3K/day penalties? 8f they refused a settlement offer or terms that the company entered in good faith - I will put my money on the company coming out ahead.
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