This is what is funny! Posted by the fat ugly woman JS! I think Hangover Joe's lawyers are more than ready and so is the SEC! Game on lol. Like they think that will work just wait till they see what is in store for them. I think Hangover Joe's also has a new team of lawyers for this i possible heard. They have lost they just don't know how big yet. Lol! The SEC is going to protect shareholders against toxic lenders! There nightmare is just starting.
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Now they aren't even theoretically accountable to anyone.
That is not exactly the case. They have contracts with multiple toxic lenders, and the revocation is an automatic default. And if HJOE defaults, certain of the notes become immediately due and payable.
"The JSJ notes are subject to various default provisions, and the occurrence of such an event of default will cause the outstanding principal and interest to become immediately due and payable to JSJ."
https://www.sec.gov/Archives/edgar/data/13881...093014.htm
All those toxic lenders which HJOE borrowed from typically have the same provision in their financing agreements. Since these toxic lenders can no longer convert and sell stock, I would imagine at least one of them is likely to foreclose on whatever assets the Company has. Much like this other toxic lender just did to another borrower when they were no longer able to convert and sell the cheap stock, which immediately put them out of business.
https://www.sec.gov/Archives/edgar/data/11567...51608k.htm
Quote:
Now they aren't even theoretically accountable to anyone.
That is not exactly the case. They have contracts with multiple toxic lenders, and the revocation is an automatic default. And if HJOE defaults, certain of the notes become immediately due and payable.
"The JSJ notes are subject to various default provisions, and the occurrence of such an event of default will cause the outstanding principal and interest to become immediately due and payable to JSJ."
https://www.sec.gov/Archives/edgar/data/13881...093014.htm
All those toxic lenders which HJOE borrowed from typically have the same provision in their financing agreements. Since these toxic lenders can no longer convert and sell stock, I would imagine at least one of them is likely to foreclose on whatever assets the Company has. Much like this other toxic lender just did to another borrower when they were no longer able to convert and sell the cheap stock, which immediately put them out of business.
https://www.sec.gov/Archives/edgar/data/11567...51608k.htm
