Friday, November 4, 2016

Billy Corgan Formally Requests Repayment From TNA, Threatens To Convert His Loan To Stock, Auction

As we've noted, there was a back and forth on Twitter between Billy Corgan and Anthem Sports & Entertainment yesterday, following the announcement that Corgan is gone from TNA and Anthem has entered into a credit relationship with the company. Dixie Carter is still Chair of the company and will remain the figurehead for the company while Anthem's Ed Nordholm will essentially be running things. While Corgan is out, he's still owed money by TNA and his lawsuit is still open.

Corgan returned to Twitter today and isn't holding back. He corrected one fan meme and said he's owed $2.7 million, not the reported $1.8 million. Corgan noted that he formally requested repayment of the loan by TNA today and threatened to take what he's owed to court and convert it to company stock or sell the options to the highest bidder, teasing a "pro wrestling titan," which could be a WWE mention. Below are Corgan's new tweets with what was said yesterday for context:

FACT: TNA was supposed to pay me to 2 days ago, which they swore to in front of a judge. Yesterday they asked for a day to 'get $ together'

Upon which, (yesterday or today) they'd 'reach out directly' to settle ALL claims. So they lied again and have used the time as a weapon

FACT: I have still not been paid, and I'm exploring all remedies including new filings with court and converting to 36 pct. equity
— WPC (@Billy) November 3, 2016

We reject Mr. Corgan's social media comments today re:@IMPACTWRESTLING. The matter is before courts/public discourse is inappropriate. (1/2)

There is a solid financial plan for @IMPACTWRESTLING & Mr. Corgan's loan will be dealt with appropriately. (2/2)
— Fight Network (@fightnet) November 3, 2016

@fightnet Terrible way to start our future relationship! What w/ the lying through counsel + propensity for press releases claiming victory

@fightnet So when you sent out the press release today and one during lawsuit (which is still pending FYI) that's not public discourse? Tsk!

@fightnet And the use of 'reject' in your tweet! Such strong language from network of fights
— WPC (@Billy) November 3, 2016

Here are Corgan's new Tweets:
YEP: just-published NY Post article asserts that judge in case ruled against my receiving 2.7 in Anthem swap deal. This is FALSE. Case OPEN

Today, I'm FORMALLY requesting repayment of my 'so-called' loan by TNA, which I'm told stalled because they didn't know where to FIND ME

Laughs aside I'd put up 1.8mil for express purpose of becoming equity stakeholder and helping talented roster. Any other assertion is FALSE

So if I'm not repaid today in full and without conditions attached, I'll be forced to once more pursue remedy by taking TNA stock via court

Remember it was Anthem and not I who stood in open court and told judge they were prepared to PAY and in turn FUND good 'ol, solvent TNA

A company which they claim they have no business deal for behind-the-scenes yet have released 2 press releases saying they are TAKING OVER

So far be it from me to accuse someone I don't know of bending truth to win a case. That just wouldn't be nice, and I believe in being nice

Last thing: despite being called a lender by every arm of TNA propaganda I can still convert to 36pct stock or sell option to highest bidder

And that 'option' if you will to convert my boo-hoo-hoo loan to 36pct stock or auction it off to a PW titan doesn't require a court order
— WPC (@Billy) November 4, 2016

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