Long story very short... 

$LOBE has converted their shares and liquidating on the open market.. most likely disgruntle shareholders from failed RTO from previously announced deal. 

$IONC is bone dry with cash... however isnt in "default" for what i know.

It has always been the plan for LOBE to sell their shares of IONC. 

Will IONC survive this madness with their cash position? i dont know.

They certainly need a big brother or some inflow of capital to survive this.

A new management would also be a positive sign for me. 



 

joeshoeless wrote: Does anyone have any info on what is going on? Lobe unloads 40 million shares. does it still have its prefered shares? were they unloaded because the company didnt pay the 13 percent interest on prefered shares . Is the company still solvent. any info is welcome.