CLZ classic minerals ltd

Ann: Forrestania Tenements Purchase Settlement Extension, page-10

  1. 4,014 Posts.
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    Pro, I agree it's insanity. iT look like clz has contracted to pay crippling interest after November the first. From the last settlement date they owe 12 percent on $300K . On November the first if they don't settle , they have contracted to pay the 12 percent ongoing plus 15 percent penalty interest on the total owing - including principal and all the interest That is way more than 27 percent. This interest is growing exponentially. This company should be immediately suspended, to assess if it's trading insolvent,
    Can anyone do the interest debt projections if they do not settle Forestania on November the first? This may signal D-day.
    What can Rividium do about it, if CLZ doesn't settle, accept continue calculating the spiraling debt that is owed? All Ridivium has received so far is the 50K deposit.
 
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