RE:RE:As for who the debt was owed, and the group that forgave itAlso a ridiculous answer.....go pat yourself on the back, or pour another drink - your opinion is worth less than the water out of the tap.
Given it is insiders making the offer, including a member of the BOD, as well as likely the CFO and/or his company, It is only prudent that it be brought to the board for approval - especially given it is highly likely it is not a quid pro quo - based on all the wording - and if it did have any conditions - it would be material and need to be press released....
The news release came out from the BOD if you cared to read that far..... So yes...it is pretty clear - there were no conditions ...
The quid pro quo is the company being in a better financial position, financing more likely, and huge upside with drilling.
As for your credentials....grandstanding with words on your fictitious background...worthless
givemeabreak1 wrote: Gamble it obviously went over your head. I will keep it simple so even you can I understand. I have both managed company's and been on a board of directors. If a supplier or service provider came to me as managent and said hey you know that payable you have not paid forget about it we are forgiving it. I would say great thanks. At the next board meet it would be included in my management report but it would not require a board approval. In order to need a board vote there would likely to be some quid pro quo. Just one man's opinion.