Tag Archives: The Basile Law Firm

Toxic Note Fight Taken To Federal Appeals Court In New York

Sponsored Yesterday, The Basile Law Firm P.C. announced that its’ client, 5BARz International Inc., (OTC: BARZ) filed a motion in the United States Circuit Court of Appeals for the Second Circuit to certify questions of law to the New York Court of Appeals requesting that several issues of unsettled state usury law be put in front of the New York

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Let’s Make A Deal! – A Message to Convertible Note Holders And MicroCap CEOs [Guest Post]

Guest Post By Mark R. Basile, Esq. Turns out that Friday the 13th is also unlucky for toxic convertible note-holders! I have been warning the toxic convertible note industry that there was going to be a reckoning with regard to how they lend money to microcap OTC Markets companies, and now, it seems that the chickens are coming home to roost.

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Update on MicroCap Toxic Debt Class Action Lawsuit

In September, two New York law firms, The Basile Law Firm P.C. and Phillipson & Uretsky, LLP announced that they have opened an investigation into a potential class action lawsuit against New York based lenders of short-term loans to microcap companies trading on the OTC Market.   We checked in with Mark Basile, Esq. (of The Basile Law Firm P.C.)

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Law Firms Announce Investigation of Potential Class Action Against Microcap Toxic Lenders

Today, two New York law firms, The Basile Law Firm P.C. and Phillipson & Uretsky, LLP announced that they have opened an investigation into a potential class action lawsuit against New York based lenders of short-term loans to microcap companies trading on the OTC Market. The class action being investigated and considered is on behalf of OTC Market public microcap

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MICROCAP TRANSFER AGENTS: Friend or Foe? [Guest Post]

Again, a lot of this goes back to the root of all microcap evil, toxic lending, irrevocable transfer agent letters and your transfer agency agreements. Recently, I spoke with a CEO who wanted to terminate his company’s transfer agent because the transfer agent refused to follow his instructions as well as the T/A providing confidential information to third parties without consent of the client, and in all likelihood, breaching the non-disclosure clauses in their own transfer agency contracts.

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Investor Relations and the Solution for the Volume Problem [Guest Post]

Guest Post By: Tom Allinder I was speaking to a funder of microcap companies last week. He was describing how the microcap market is continuing to fall apart. I asked him what the problem was… “Convertible debt and the funding instruments the companies are using,” he replied. “We are seeing this across the board now. When a company starts filing

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“MICROCAP TERRORISM” – A Warning to OTC CEO’s [Guest Post]

Guest Post By: Mark R. Basile, Esq.  There are many forms of terrorism in this world playing out right before us and we are all somewhat familiar with the political form, but what about the economic form. While there is no one specific definition of terrorism as applied to business, I have seen many companies fall victim to what I call

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OTC CEO’s: Want Respect? Then Pay Yourselves. [Guest Post]

Guest Post By: Mark R. Basile, Esq.  There are two sides to the position of OTC (microcap) CEO pay. Either you should have the privilege to work for free for shareholders and investors, or you can be a real professional and pay yourselves a reasonable salary. If you want to raise real money, pay yourself. I can’t begin to tell you

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