I know this might be off topic but it's similar to
Post# of 15187
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Posted On: 03/29/2017 8:06:36 PM
I know this might be off topic but it's similar to HJOE
I just read the lawsuit, it was just filed, but pertains to the 8K filed on 3/6/17. It would not have been in the last Q. What happened was Auctus lent TXHD $237,750 last summer, which was in the Q. TXHD set aside shares to cover it, Auctus did 2 draws one on 1/25/17 and 2/21/17. I am assuming that should have covered about 2/3 of the debt, maybe more. Then on March 3, 2017 TXHD decided the debt was paid and refused to issue more shares to them. They were expecting this suit when they hired the attorneys and filed the 8k on 3/6/17. Now Auctus wants $529,755 which equals 150% of the ORIGINAL debt, plus fees, plus 22% interest (even though they were paid back at least $160,000 of it and maybe all of the principle. Talk about usury violations, wow. I expect TXHD might end up owing some money, but maybe not. I am not to worried about this case. I expect TXHD will file an 8K tomorrow or Friday addressing the lawsuit.
I just read the lawsuit, it was just filed, but pertains to the 8K filed on 3/6/17. It would not have been in the last Q. What happened was Auctus lent TXHD $237,750 last summer, which was in the Q. TXHD set aside shares to cover it, Auctus did 2 draws one on 1/25/17 and 2/21/17. I am assuming that should have covered about 2/3 of the debt, maybe more. Then on March 3, 2017 TXHD decided the debt was paid and refused to issue more shares to them. They were expecting this suit when they hired the attorneys and filed the 8k on 3/6/17. Now Auctus wants $529,755 which equals 150% of the ORIGINAL debt, plus fees, plus 22% interest (even though they were paid back at least $160,000 of it and maybe all of the principle. Talk about usury violations, wow. I expect TXHD might end up owing some money, but maybe not. I am not to worried about this case. I expect TXHD will file an 8K tomorrow or Friday addressing the lawsuit.
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