GREY:PWCRF - Post by User
Comment by
ilafalot2on Apr 04, 2013 10:35pm
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Post# 21213834
RE: Debt Settlement
RE: Debt Settlement Very interesting. So David Paull was owed at least $250,000 and resigned s a Director when the Board decided to settle the debt for shares at 7.5c. This may not be good news.
Did he want a more generous conversion? Did he not get the dollar amount of debt to which he thought he was entitled? Was it a forced conversion? If so, did he think he had a hammer with debt that was weakened by conversion to common shares? Was he voted down on a bid to get convertible preferred?
It is troublesome to me that this Director (who took Levitt down too) may not have liked a settlement that appears to me to be generous to a fault.