12-05-2013, 07:09 AM
(This post was last modified: 12-05-2013, 07:10 AM by thecrazykevy.)
'kevinh' pid='32867' datel Wrote:That is the way I'm reading it too. If there's a default, the shares become property of the lender and converted to class A automatically. Are they planning to pledge the shares? If so, why? The company has $100M in cash to grow and expand.
I don't think this is about the company itself pleding shares for a loan if that's even possible. I think this relates to the founders of NQ who own super voting shares and pledging those shares to borrow cash for personal use.