Did you know that Marion Energy agreed to a settlement with Lobo...

Did you know that Marion Energy agreed to a settlement with Lobo Well Service and agreed to pay $100,000 on 1 August

Did you know that Marion had to pay another $100,000 on 1 September.

If they default on any of the payments they will need to pay $1.5M

With only $300K in the bank as of 1 July 2011, one does wonder...

At least they got another $50K out of Lajolla.

Another $50K at 0.006c = another 8.3M shares
$500K = 83M Shares.
A company saving
$5M = 830M shares...

If you remember Fortis Bank have a $5M convertible note, that they have not converted.
If they convert now they will get 50% of the company..