WOW, Now That's A Kick In The Teeth!So, as of December 31st, we now have $49,000,000 of debt at 10%, or $4,900,000 per year of interest, that when it accumulates (deferred payback) it also is at 10% (secured and 10% -- predatory!!!). We have the remaining 138,000,000 "preferred shares" that LBE can redeem but continue to accumulate interest at 8% for a total additional debt of $15,180,000 (138,000,000 preferred shares @ 11 cents) for a total of approximately $1,215,000 of additional interest per year. This puts the total debt, including redeeming the "preferred shares" at approximately $64,000,000 for a total owing of $6,115,000 of interest per year. That just a measly $510,000 per month -- drop in the bucket, right? After all of that, JJ holds 60% ownership in the company assuming they can pay back all of this debt. Wow, where is the opportunity in this pig? Certainly seems to me that Dr. Gary Nash wasn't on board for this one and he is history. JJ played this POS beautifully, for JJ, of course! The LBE Minority shareholder death spiral continues...
So, Victor2009, how is that LBE investment going? With all of the changes that are happening to LBE one would wonder why the cat has your tongue. Sucks to be you!