Posted On: 05/16/2016 12:27:23 PM
Post# of 15187
HJOE agreed in their settlement with TCA to terms almost the exact same terms as the KBM terms:
Will HJOE argue that they didn't understand the terms and conditions of the KBM loans - when in fact they have entered into numerous loans with similar agreements.
HJOE has already admitted that they entered into the loan agreement knowing they couldn't repay the loan - that would be fraud.
HJOE defaulted on the loans - as anyone can read the Promissory Note - under Events of Default.
Here are a few of the Events that would trigger a default:
Failure to Pay Principal or Interest.
Failure to Comply with the Exchange Act. (The Borrower shall fail to comply with the reporting requirements of the Exchange Act).
My guess most haven't read the Promissory Noye with KBM and how similar it is to past notes paid such as TCA and Asher.
Quote:It will be tough to argue any Usury violations since HJOE has converted notes in the past with the same terms.
All interest and principal under these notes was to be repaid on July 12, 2015 and are convertible into common stock, at the note holder’s option, at a 45% discount to the average of the three lowest closing prices of the common stock during the 20 trading day period prior to conversion.
Will HJOE argue that they didn't understand the terms and conditions of the KBM loans - when in fact they have entered into numerous loans with similar agreements.
HJOE has already admitted that they entered into the loan agreement knowing they couldn't repay the loan - that would be fraud.
HJOE defaulted on the loans - as anyone can read the Promissory Note - under Events of Default.
Here are a few of the Events that would trigger a default:
Failure to Pay Principal or Interest.
Failure to Comply with the Exchange Act. (The Borrower shall fail to comply with the reporting requirements of the Exchange Act).
My guess most haven't read the Promissory Noye with KBM and how similar it is to past notes paid such as TCA and Asher.
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