But if it never gets out of suspension then the convertible notes can't be converted.
But what will happen is Mr Gutnik will have money owing to him in wages and then company will apply for chapter 13 which is bankruptcy.
Then recivers placed by Mr. Gutnik will come in and sell off any assets held by the MED to pay off Mr. Gutnik.
They will not find a buyer who will be interested as much as Mr. Gutnik's wife who will offer to pay $500,000 dollar for the merlin Mine.....
Mr. Gutnik will get this $500 thousand dollars he is owed for unpaid wages and MRS. Gutnik will get the Merlin Mine and we shareholders will get a few articles in the paper describing haw sad everyone feels about us poor shareholders in MED who got Ripped off.
MED Price at posting:
0.6¢ Sentiment: None Disclosure: Held
