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That's the end of MIGME. Liquidation, cents in the dollar for...

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gimmegimme

1,939 Posts.

636

12/05/18

21:48

Post #: 33057670
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Originally posted by crazygrape123 ↑

Thanks

so bunch of stuff:

1. ikram thanks for your posts. but quite frankly, the only way you get paid, creditors, etc get paid and shareholders get a return is if we're able to complete this reconstruction. personally, i haven't been paid since january 2017. and the amounts in public disclosures reflect accruals, not cash movements. so any suggestions / allegations of impropriety are without grounds.

2. we've successively broken off from TNEN since march. and have been respecting the confidentiality / etc however as of today, they've chosen to repudiate the agreements and make what we believe are some ambit claims. so we're free to speak publicly and get moving on things. the bottom line is that TNEN is owned by a guy called Dan Vesco (whom we discovered later has a colorful background), he's been given a lump of cash to make this transaction work to which he's paid the majority to himself / personal interests, and he's stiffed his lawyer (in fact, and out of contract been asking us to pay his lawyer for him). And he's been trying to chase more cash out of us without any commitments to complete the transaction and thus making the situation for migme's long suffering creditors, staff, shareholders, etc worse.

3. we have a bunch of investors who like the style of transaction we've been chasing. And that transaction may yield a return to all of migme's constituents (creditors, staff, shareholders, etc). we're looking forward to updating everyone on the success of that in due course. we're focussed on getting a result for everyone.

regards

Steve

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That's the end of MIGME. Liquidation, cents in the dollar for secured creditors and nothing for unsecured creditors or shareholders is assured.

Last edited by gimmegimme: 12/05/18

MIG Price at posting: 4.4¢ Sentiment: None Disclosure: Held
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