(Total Views: 300)
Posted On: 03/19/2019 11:56:27 AM
Post# of 40991
BTW , SB did not "negotiate" his way out of the Delaware debt despite the narrative here.
This quote was from Mary's conversation with SB on 2/26/18:
YES DE debt will be cleared. Although the DE debt exists, it is MUCH LOWER than anyone knows or assumes it to be. SB feels that the former owners should be responsible for settling it and is legally pursuing this avenue. He said the total DE debt will be revealed on the 3/15 Q1 and again, will be MUCH lower than anyone thinks.
The debt as we found out later is set on the DE SOS website with all the fines and penalties included in it in order to shock the company. If the company makes an attempt to clear the debt, DE will revert back to the actual amount due which in this case was always $2000.
This was another story that SB conceived in order to impress his shareholders with his negotiating skills. Another story that most shareholders bought hook, line, and sinker.
This quote was from Mary's conversation with SB on 2/26/18:
YES DE debt will be cleared. Although the DE debt exists, it is MUCH LOWER than anyone knows or assumes it to be. SB feels that the former owners should be responsible for settling it and is legally pursuing this avenue. He said the total DE debt will be revealed on the 3/15 Q1 and again, will be MUCH lower than anyone thinks.
The debt as we found out later is set on the DE SOS website with all the fines and penalties included in it in order to shock the company. If the company makes an attempt to clear the debt, DE will revert back to the actual amount due which in this case was always $2000.
This was another story that SB conceived in order to impress his shareholders with his negotiating skills. Another story that most shareholders bought hook, line, and sinker.
Quote:
He needs to clear this from the books like he did the Delaware debt. (I know he can't negotiate out of this mess and get a better deal.)
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