Terms of the Fertitta’s
raping loan come out
Sherdog found out what the terms on shell company Zyen’s loan were, and if the deal was a sex act, it would be a slap-happy ten cock gang bang of the anus:
According to the filings in the case, the original $12 million note was repayable in one year with a 15-percent interest rate and was collateralized by all of Xyience’s assets. The terms also allegedly included warrants for 10 percent of capitalization of the company at one cent per share and 50 percent of the company’s equity if Xyience failed to repay.
The judge said the Fertittas drove ‘hard bargains’. He also said waterboarding ‘doesn’t feel great’ and George W Bush ‘isn’t all that bad’. Keep in mind this loan agreement was made between the Fertittas and Xyience executives the Fertittas had installed in the company. Which would be all well and good if there weren’t a bunch of other people who’d invested in the company who are now getting the shaft because of it.
Rich Bergeron countersues Xyience and the Fertittas
Pretty much everything Xyience put into their lawsuit against Rich Bergeron was bullshit, and there’s a good amount of evidence they acted fraudulently in the case, just expecting Bergeron to roll over and give up. He didn’t, and now he’s firing back, suing Xyience and the Fertittas for trying to rob him of his First Amendment rights.
Where do the Fertittas fit in all this? Bergeron alleges they were the ones that pushed Xyience to file the suit in exchange for further funding. Why does that make sense? Bergeron was posting a lot of stuff online about how the UFC was involved in improper financial dealing with Xyience, and Xyience’s initial injunction resulted in that evidence being taken down.