RE:RE:RE:RE:RE:RE:RE:Can't wait for those financials!Grumpy...I have not seen the entire contract. Just the news releases from Signal.
I'm afraid it's you that doesn't get it. You speak as if you have read the contract and know all the clauses. I'm telling you that it's STANDARD PRACTICE for a lender to take ALL of a business assets, present and future, as collateral for a loan. That does not give the lender any authority on business decisions. Of course, a company could not give away their assets or the proceeds for the sale of those assets, but converting unused assets into cash will never worry a lender.
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of course i could not spend the money if i sold my cottage. if the bank held the funds from the sale of the company i am sure that they would be happy with that. ie. the cash was still a guarantee towards the loan. i could not spend it.
but your earlier post said it could be used to pay down debts. I can't tell the bank the money from the cottage sale.... i'm going to use that to pay the phone bill. I work for myself and am going to give myself a big raise with the money. Sorry mr. banker.
So.. that I understand you correctly. The cash is still included in collateral. Meaning that signal does not have access or the use of that cash if they sell pointe rousse. Because it is still collateral. That is basically all I was saying the whole time.
You seem to be getting quite upset.
Do you think the financials will be out tonight?