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I'm fine with keeping this professional, but you can expect if you say that I am lying to you I will take that personally.
To my knowledge Care Concepts rescinded the deal because it was part of the agreement that should AMEX delist their stock due to the purchase, then the agreement was rescinded. AMEX wasnt too happy with this reverse merger as it was essentially allowing iBill to IPO without the usual oversight. IBill essentially was getting access to capital markets in the AMEX without Care Concept stockholder approval or any of the other usual requirements.
I would be one of the first to say that the IBD/iBill merger smells bad and looks shady.
As far as the 11 million debt you are referring to, I dont see it anywhere. Maybe you could post a link? I would hazard a guess that this debt has its origins with the fact that Intercept sold iBill to Penthouse Int'l for a small cash amount and a large note. That note would have been right around the amount of 11 millionish. In the event that note comes due, what do you think Intercept will do? Liquidating iBill is not the option I think they would choose as then their iBill asset goes for pennies on the dollar. They don't want iBill back so I would think they would renegotiate terms with the PHSL group.
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