You dont actually believe GLV will ever see any of the CVS or CIS money again do you?
***Unrelated to current management***
GLV (then BKP) loaned $900k to CVS which is
unsecured... CVS is cooked so that money is effectively gone.
GLV (then BKP) loaned $2,829,789 to CIS which is
secured... note that i dont believe that CIS has anything to secure the loan against and the money is effectively gone.
As at the date of this notice (16 Aug 2019), the Secured Monies owed by CIS to the Company under the Secured
Loan Agreement consist of:
(i) Loan advances totaling $2,829,789.85;
(ii) Interest accrued on the Loan advances totaling $1,050,386.08; and
(iii) Interest accrued on Overdue Monies totaling $420,991.59.
*****
GLV is not going to see any of the $3.7 mil ($5.2 mil after interest) ever again.... getting rid of the old management was a good result... unfortunately it was out of the frying pan and into the fire.
