I don't see the noteholders getting control of the company but I do see them using it while negotiating a settlement. Kry wants to pay as little as possible to them and they want as much as possible.

If during negotiations with the noteholders they want to convert their $100,000,000 plus into shares they would control the company. It would take a billion shares at .10 to clear the debt. this would give them about 73% plus what ever shares they already own.

I think Fung is saying they plan to do a new financing to get rid of the notes but it will cost us a percentage of the award and possibly a flat fee minimum.

It would be tough for the noteholders to even get their case done before the notes are due.

JJ