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Posted On: 05/08/2021 1:18:03 PM
Post# of 22465
Bill..heres my view on the judgement
Here is what we beat L2 on :
They sued for 127 million shares of stock at a 30% discount, at the lowest price sold over a given period of time. As you may remember, the Texas court granted injunction forbidding them seizing the stock until Kansas was over. Kansas said they don’t get a single share of stock. QTMM had offered to settle i believe.
They also claimed that the original notes were not paid in full. Kansas ruled they were paid in full, or if not, that L2 and SBI failed to prove any was still owed. Zero on that.
They also asked for $15 million dollars in default liquidated damages. The court found that these were not liquidated damages but penalties, and penalties are not legal in Kansas. So, 0 on the $15 million.
Thats my synopsis.A K & L settlement will probably more than cover these minimal costs they are paying out.Just good to move on and focus on business and revenue.
Here is what we beat L2 on :
They sued for 127 million shares of stock at a 30% discount, at the lowest price sold over a given period of time. As you may remember, the Texas court granted injunction forbidding them seizing the stock until Kansas was over. Kansas said they don’t get a single share of stock. QTMM had offered to settle i believe.
They also claimed that the original notes were not paid in full. Kansas ruled they were paid in full, or if not, that L2 and SBI failed to prove any was still owed. Zero on that.
They also asked for $15 million dollars in default liquidated damages. The court found that these were not liquidated damages but penalties, and penalties are not legal in Kansas. So, 0 on the $15 million.
Thats my synopsis.A K & L settlement will probably more than cover these minimal costs they are paying out.Just good to move on and focus on business and revenue.
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