(Total Views: 225)
Posted On: 01/28/2017 12:49:39 PM
Post# of 43066
Exactly right. One step further--PTOI's major creditor and its CEO are one and the same. There's no need to take the company through chapter 7 for 11 when Mr. Heddle can just negotiate with himself. Bankruptcy court to bring together debtors and creditors to work out a plan simply isn't needed here.
In a year and a half, Mr. Heddle's loan to PTOI is due but he has control and can sell PTOI's meager assets right now and use that money to pay himself as he pleases.
In four and a half years, the $600k loan from other investors is due...but if Mr. Heddle shows them a company with zero assets, those investors will judiciously decide not to put PTOI into involuntary bankruptcy either.
Under the current circumstances, I don't foresee any bankruptcy in PTOI's future. If investors are worried about a bankruptcy proceeding, they needn't be.
In a year and a half, Mr. Heddle's loan to PTOI is due but he has control and can sell PTOI's meager assets right now and use that money to pay himself as he pleases.
In four and a half years, the $600k loan from other investors is due...but if Mr. Heddle shows them a company with zero assets, those investors will judiciously decide not to put PTOI into involuntary bankruptcy either.
Under the current circumstances, I don't foresee any bankruptcy in PTOI's future. If investors are worried about a bankruptcy proceeding, they needn't be.
(0)
(0)
Yes, I understand your penny stock also is the real deal, created with the inventiveness of Edison and destined to be the next Microsoft. Yes, I understand that the delays are also only because your company is making their product and/or technology even more revolutionary.
