Here's yet another LIE in court filings, if that's
Post# of 7802
Posted On: 04/01/2016 9:20:05 PM
Here's yet another LIE in court filings, if that's what this actually is.
Now did Huffman not read the filings which are signed by KK? Every lender with a note in default has such rights.
Quote:
In his postings, Volentine is making the allegations that the Company and its officers, directors and related parties, including family are making predatory loans to the company, which he infers damage the normal shareholders, while giving these persons somehow the right to “foreclose” on the treasure that the company may find, using these overdue loans. He has no basis in any of the disclosed materials that are publicly filed to make such allegations as the loan terms are disclosed and grant no such foreclosure rights.
Now did Huffman not read the filings which are signed by KK? Every lender with a note in default has such rights.
Quote:
The Company does not have additional sources of debt financing to refinance its convertible notes payable and notes payable that are currently in default. If the Company is unable to obtain additional capital, such lenders may file suit, including suit to foreclose on the assets held as collateral for the obligations arising under the secured notes. If any of the lenders file suit to foreclose on the assets held as collateral, then the Company may be forced to significantly scale back or cease its operations which would more than likely result in a complete loss of all capital that has been invested in or borrowed by the Company.
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