casey -that is the way i read it as well:
"From the way I read it the principal of the loans were paid along with reasonable interest. But not the full amount of interest and fees the lenders tacked on.
"These loans as a group all have been repaid not only to the extent of the entire amount of their principal but significant interest as well, not at the effective interest rates of the loans and meritless fees added on to them, but certainly at or near the legal rate of interest""
i took it as Veal saying the principal was paid back, with significant "interest" on the conversions if not outright paid off by the company. what hasnt been paid back are the "penalties" such as $4000/day or other interest which is where the usury complaint comes in. the entire point of usury laws is so that those who are "desperate" are not egregiously taken advantage of in their time of need and with less than perfect information. both of these are easily argued with HJOE and are addressed in the original complaint (where they were promised significant investment capital by going public and by taking these loans).
this also goes back to "damages." KBM has to argue that how they were damaged by the contract "breach." they have to show the breach was injurious and intentional. i dont see how they effectively argue that. the big difference between HJOE and most of the other micro caps that they have lent money to - HJOE now has the ability to fight back and do so aggressively. either they are paying the attorneys or the attorneys see sufficient potential in the company to be paid in stock (or a mix). either way - it suggests that $HJOE IS producing revenues and is moving forward in a very capable way despite the negative air surrounding them.
while i dont expect the share price to explode prior to financials demonstrating this, i do believe more and more investors will come to the conclusion that they company is succeeding and generating significant revenues. the LTCG renewal was based on 500K in sales which the majority had to be since SMS. that alone should be a solid indicator of hidden performance.
"From the way I read it the principal of the loans were paid along with reasonable interest. But not the full amount of interest and fees the lenders tacked on.
"These loans as a group all have been repaid not only to the extent of the entire amount of their principal but significant interest as well, not at the effective interest rates of the loans and meritless fees added on to them, but certainly at or near the legal rate of interest""
i took it as Veal saying the principal was paid back, with significant "interest" on the conversions if not outright paid off by the company. what hasnt been paid back are the "penalties" such as $4000/day or other interest which is where the usury complaint comes in. the entire point of usury laws is so that those who are "desperate" are not egregiously taken advantage of in their time of need and with less than perfect information. both of these are easily argued with HJOE and are addressed in the original complaint (where they were promised significant investment capital by going public and by taking these loans).
this also goes back to "damages." KBM has to argue that how they were damaged by the contract "breach." they have to show the breach was injurious and intentional. i dont see how they effectively argue that. the big difference between HJOE and most of the other micro caps that they have lent money to - HJOE now has the ability to fight back and do so aggressively. either they are paying the attorneys or the attorneys see sufficient potential in the company to be paid in stock (or a mix). either way - it suggests that $HJOE IS producing revenues and is moving forward in a very capable way despite the negative air surrounding them.
while i dont expect the share price to explode prior to financials demonstrating this, i do believe more and more investors will come to the conclusion that they company is succeeding and generating significant revenues. the LTCG renewal was based on 500K in sales which the majority had to be since SMS. that alone should be a solid indicator of hidden performance.
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