Trillion Energy International Inc. C.TCF

In fact the word "pledged"

[CountOfMeltedCrisco]

appears exactly four times and only in reference to the Debentures themselves and under what conditions they can be "pledged".

No

SASB

"assets"

[TheLandedEagles]

So you agree its have been stated , the wording "PLEDGED" 4 times...under that document and this is in fact a SECURED DEBENTURE and holders given a priority charge on the PDP reserves (Proved, Developed, and Producing)...where exacting do think those reserves exist...the "SASB" block...so, your point is What...because SASB, was not mentioned specifically....priority pledge is

[CountOfMeltedCrisco]

That entire clause you cite and the imputed value therein will be invoked if and only if Trillion seeks additional financing it does not pledge any value of any SASB asset it says essentially "You can't borrow any more than this calculated value of what SASB is worth right now". And that's it! Stop digging and stop LYING!

[TheLandedEagles]

The value of those pledged reserves is limited to Cover the entire $15 MILLION...Similar to a mortgage on a property... The other component is the formula to address further financing so not to impair the holders priority interest on that $15mm....

[Maxmoe]

Oh dumphawk, Didn't you confirm it's a NEGATIVE PLEDGE? Let me guess. You have no idea what this term means. In simple terms, it means you don't promise ANYTHING. You promise NOT to do something unless you pass the covenant aka test. If you go offside LATER, that does NOT violate a negative pledge unless there is very specific allowance for that. There isn't. You should have given

[Maxmoe]

Can I assume we are done discussing your interpretation of the regulations for private placements? Specifically what a "4 month hold" means? Totally embarrassing to be so wrong on that one, but you soldier on, just as wrong about the implications of the negative pledge. Take your own advice.  Think about you say and mean, before posting!!!!!!!!!!!!!!!!! I'll add to this

[Maxmoe]

The lie is that they can't raise any money because of that pledge. They can. As long as the test of debt to reserve valuation is passed. And you either know this or you're just firing out the pie hole whatever suits your story. Pick one. Incompetent that doesn't understand that he's lying? Or worse, someone who knows exactly what lie is being told and why.