Albert wins TKO of Dale and his team.OVERVIEW OF THIS PROPOSAL Under the Agreement, the Purchaser shall become the sole shareholder of the Company, and shall, among other things, cause the Cash Consideration to be paid to the Proposal Trustee, on behalf of the Company, in consideration therefor.
The former Chair Albert ends up with the whole company. The bankruptcy claims of the company will be funded by the payment.
The subscription price for the Subscribed Shares shall be the aggregate, all-inclusive amount of $2,538,398.00 (the “Subscription Price”)
So, there you go. Shareholders will get ZERO, as was predicted.
Albert gets the assets for an additional 2.5 million. i wish him luck.
Claims get paid from the 2.5.
This info comes from the MNP web site, and is weeks old.
Fitting end. I finally get to stop covering this pos.