So the Lenders get TBA for $4.2 million cash in the event of any default or Byron Leaves ! Have i read that correctly ?
Why is this dependent on the MD staying ?
How is this legal ?
Where they trading insolvent ? That might be our only recourse if this falls over.
I wish i could get $850,000 cash interest on $4.2 million over 90 days ?
That is 20% interest over 90 days, my Visa Card offers better rates!!!!
May be all us shareholders can pool our Credit Cards an offer a cheaper rate to the Company ?
I now truly cant understand how this will have a positive outcome for shareholders ?
Unfortunately this smells extremely desperate.
Is the Board still being paid ? If so, why ? How can they expect to be paid out of a debt facility ?
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