CEO of libe followed up with this post about 9 hou
Post# of 199
Posted On: 01/14/2016 7:33:04 AM
CEO of libe followed up with this post about 9 hours ago. Looks like it may be coming back.
There will be amendments in the next few days to the filing - the address is just one issue to be corrected. We weren't going to file on time but made a last minute decision to get something out.
LG has purchased 99% of those notes remaining which will show next quarter. Look at the dates, the notes are all mostly from before my time, and many have been repaid, with the balance under one roof with restrictions @ 10% of weekly volume. The dried up market of the past few months has allowed me to finally negotiate settlement prices that were manageable. For example, Tonaquint's $309k note was settled for $80k and then sold for $55k, a number we can afford to repay over the next few months (I wanted to do this last January).
You can poke fun and make assumptions, but real work has been done cleaning things up here and will update the big picture soon.
Thanks
Brian
There will be amendments in the next few days to the filing - the address is just one issue to be corrected. We weren't going to file on time but made a last minute decision to get something out.
LG has purchased 99% of those notes remaining which will show next quarter. Look at the dates, the notes are all mostly from before my time, and many have been repaid, with the balance under one roof with restrictions @ 10% of weekly volume. The dried up market of the past few months has allowed me to finally negotiate settlement prices that were manageable. For example, Tonaquint's $309k note was settled for $80k and then sold for $55k, a number we can afford to repay over the next few months (I wanted to do this last January).
You can poke fun and make assumptions, but real work has been done cleaning things up here and will update the big picture soon.
Thanks
Brian
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