Post by
bond46 on Jun 14, 2013 8:26pm
Is Mark Haywood a Marret Hatchet Man?
In the NR Mark Haywood says that Cline does not have 3.5million dollars to pay for the interest on the Bonds. Really? Why then he agreed to cancel the Recap agreement with Marret?. Marret could not cancel the agreement unilaterally; Cline must have consented. And was it the reason that that other idiot, Bates , was kicked out of the board because he probably objected to the cancellation ot the original agreement with Marret? We will never find out for sure, but it will be interesting to watch what kind of a "forebearance" agreement he would sign with Marret now, or none at all, forcing Cline into bankruptcy. If the agreement is worse than the original, expect a slew of lawsuits aganst Haywood and the current board who cancelled the Rights offering. Whether he is a Marret hatchet man we'll know pretty soon. Marret can not have it both ways. There is a risk in investing in start up companies and if things don't work out both bond holders and shareholders lose..
Comment by
xo42 on Jun 14, 2013 9:06pm
Bond you ask some very interesting questions that shareholders should be getting answers to one way or another.
Comment by
grantflyby on Jun 14, 2013 10:37pm
Sure looks like it! Any way for 1cent I will just wait to see what other wondefull things they have up there sleeves.