(Total Views: 260)
Posted On: 08/06/2018 5:34:20 PM
Post# of 43066
P2O's CEO and BOD hold all of this companies debt.
P2O'S CEO and BOD have all the collateral of P2O as the default trigger on the promissory notes for over $10mm (and climbing)
All Heddle has to do is give two options to shareholders.....accept the tender offer for their shares.....or he can liquidate the company and still retain all the assets leaving shareholders who refused the tender holding shares in a shell.
Heddle and the BOD even get to set the price of the tender for fair market value.....which can be much lower than the current pitiful share price.
It's not rocket science. He figured out all these angles way back in case he couldn't recover his loans.
Heddle wrote the prommisory note terms for his own loan specifically had all the assets used as collateral in case of default.
It leaves shareholders with no options in their favor if he calls the note.
Do you expect him to sit on his loans forever and never collect ?
P2O'S CEO and BOD have all the collateral of P2O as the default trigger on the promissory notes for over $10mm (and climbing)
All Heddle has to do is give two options to shareholders.....accept the tender offer for their shares.....or he can liquidate the company and still retain all the assets leaving shareholders who refused the tender holding shares in a shell.
Heddle and the BOD even get to set the price of the tender for fair market value.....which can be much lower than the current pitiful share price.
It's not rocket science. He figured out all these angles way back in case he couldn't recover his loans.
Heddle wrote the prommisory note terms for his own loan specifically had all the assets used as collateral in case of default.
It leaves shareholders with no options in their favor if he calls the note.
Do you expect him to sit on his loans forever and never collect ?
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