TheoJones comment at AgoraTheoJones
TheoJones
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TheoJoned
Razors Edge
posted on May 15, 2024 08:23AM
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"In May 2024, P. Peter Pascali provided a $1 million loan to the Company with a maximum term of twelve months. The loan bears interest at 10%."
"Looks like the Mellon Trust and Pascali personally are both now creditors! Now why would that be? Isn't Radian supposed to pay their bill this quarter?
This tells me one thing: Pyrogenesis needed money to keep the lights on. They're literally so close to bankruptcy that they needed a million dollars to continue operations until the proverbial "cheque in the mail" arrives.
Oh wait! They also changed the wording re: Radian payments... last we heard it was "paid in full" in Q2, now it's "to commence" in Q2. This company just can't get out of its own way lol
Pascali is covered either way though so he's safe.... more than can be said for shareholders!"
Good luck to All!