Quote:
Originally posted by scoreman
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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I think the debt they are fighting with Intercept over is only $3.8 mil according to their 8-Ks
http://www.sec.gov/Archives/edgar/da...9-1_050704.htm
http://www.sec.gov/Archives/edgar/da...481/c32246.txt