There you have it.

The employee agreements between JC and those at Punch TV would have stayed with Punch TV and not have been transferred through the purchase of the assets.

This issue whether or not employees of punch TV were paid or should be irrelevant. The issue seems to have been forced onto Steve as if it was his problem. Good on Steve for addressing it though.

If Punch TV has no cash flow, that's a problem. This would explain a few other things as well...