Okay Mayhem, I will do my best to explain based on my memory of the details. Your confusion appears to be the timeline more than anything else.
Mammoth Energy was a failed oil drilling company back when Overcash was the CEO. At that time, MMTE had lawsuits filed by employees who Overcash refused to pay for their labor when the wells produced no oil. MMTE was deep in debt, and could not drill on their leases because the employees made claims against all MMTE's oil lease properties. Eventually, the board and management were given a vote of no confidence by shareholders, and this is when William Lieberman was brought in to plot a new direction --- this time lithium production.
Keep in mind, Lieberman was not an unknown. William worked with Overcash on accounting and financial matters while Joe Overcash was CEO of MMTE.
Once the new board was elected, they voted Overcash out, and voted Lieberman in as the new CEO. However, MMTE was completely broke at this point, and had liabilities as well as debts. It was at this point that Overcash showed his close ties to William. Joe Overcash offered to front William $40,000 to get MMTE up and running again, and launch it on its new direction questing for lithium concessions. The M&A Advisors lawsuit proved that Overcash did pay William $40,000, but apparently transferred the note to his friends at STARR CONSULTING. I detailed all the parties involved, as well as the names in prior posts on this board.
So to answer your questions, the $40,000 note accepted from Overcash had nothing to do with TTXP or BOPT or SIPP or anything else. The money was for MMTE alone. Overcash and his friends used MMTE as their own personal piggybank when he was CEO. And, when he was voted out as CEO, he and his friends were very upset that this cash cow was taken away from them. I suggest that Overcash offered William Lieberman the money, and William accepted, because it was Joe's plan to once again take control of MMTE, and continue his milking of the company.
Finally, to my knowledge, William paid nothing to take over MMTE (at least nothing publicly stated). Lieberman was simply voted in as CEO because he already had knowledge of the operation and appeared more honest than Joe Overcash, even though the two worked together on financial and account matters.
