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Would say that also tells the court Frr would be closing in on paying full payment on L/Notes.
TAFFY, do you have any more appendices to post? This one was very revealing.
It’s encouraging to see Hope writing on 25 September that ‘the company may find its value appreciating dramatically in the next several months.’ Makes me think we are still bargaining - but through the courts.
It’s clear as day to anyone with a quarter of a brain what Hope is up too. WTF didn’t we get the TRO ? Crazy .
Timing is the all important thing - why take until late September to respond to the April BoD meeting with his terms?
September had Disruption in the boardroom a NY loan looping in the background and Hope trying to appear appeasing to look good in front of any arbitration. He knew that the terms would be unacceptable. Maybee it was Hope forced the showdown and not ZaZa.
I know hindsight is a wonderful thing but I would have bitten his hand off unless they were worried that with the increased share holding he could have taken over the company
Hope seems to be offering to convert 50% of his loan notes into stock with the option to buy back his stock at a premium. Presumably beneficial for company/shareholders to do this if the share price rocketed.
He was offering to waive 8% step up on notes.....I’m assuming that’s the increasing value.
This is on the basis that the company also raise 5 million through new share subscriptions ( I think)
Anyone else care to comment. Is there any procedural reason why they didn’t accept this offer?
m: Giorgi Kalandarishvili