IGDIf you review what has been going on with the company, the private placement and the issuance of the debentures was to pay off the various debts.....that is, most of the debt owed to the various insiders. I believe Lori left because she got paid (inflated mananagement fees and bogus expenses) and there was nothing left in the pot other than what was required to pay the necessary creditors (TSX, transfer agents, auditors). There is (imho) no hope of securing other financing as if I were the debenture holder, I would want my $$$ (let alone the 12% interest) before the ink dries on any subscrition agreement....hell, I would go to the subscribers house to pick up the check.
Peter Haukedal may have deep pockets and he owns most of the now untradeable common shares of the company; I think I read somewhere he is the debenture holder and was therefore somewhat forced into putting up $$ so he would not lose his investment in IGD...this is a classic example of putting good money after bad.
The stock is halted, no hope of financing and investors left holding worthless paper. Someone should write a book on companies like IGD, SLI, PNS, etc .. . .