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AmeriResource Technologies Inc. (ARIOQ)

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http://nvsos.gov/sosentitysearch/CorpDetails.aspx?lx8nvq=66SFrtg5lIPRK6FNoHfl6g%253d%253d&nt7=0



AmeriResource Technologies Financing Approval Sought

by Linzee Brownon November 30, 2015

According to the U.S. Bankruptcy Court docket, AmeriResource Technologies filed a motion for entry of an order authorizing the Debtor to (i) obtain post-petition financing from Payroll Funding Company (PFC) and grant liens and security interest and (ii) enter into marketing agreement.

The Debtors request the approval of financing up to $200,000, payable as follows: (i) the maximum monthly advance is $75,000 and (ii) the maximum outstanding borrowing is $200,000. The proposed D.I.P. loan from PFC is interest free with a first priority lien on all future cash receivables. The Debtor has no other assets to pledge as collateral.

The motion explains, “Here, the proposed DIP Loan is critical to the Debtor’s existence and ability to formulate and fund a Plan of Reorganization. The proposed DIP Loan and Marketing Agreement with PFC will provide the Debtor with a stream of income from which to fund a plan. Thus, the likelihood of the Debtor consummating a plan of reorganization will significantly increase. As a result, the Debtor does not intend to liquidate any assets, which are necessary for ongoing operations. This will undoubtedly result in a benefit to all of the stakeholders in this case. In connection with the fiduciary duty the Debtor owes to its creditors, it is imperative that the Debtor receive the new DIP Loan so that it can continue to operate.”


CREDIT LINE AGREEMENT ~ 

* Filed 11/25/15 

Payroll Funding Company, LLC. ("Lender") hereby agrees to lend $200,000 to AmeriResource Technologies, Inc. ("Borrower") on the following terms and conditions: 

1) Effective Date: The Effective Date hereof is Tuesday, December 1, 2015 

To be signed by: 

* PAYROLL FUNDING COMPANY, LLC ~ Lisa Nelson, Officer 

* AMERIREOURCE TECHNOLOGIES, INC ~ William R. Robins, President 
 

MARKETING AGREEMENT ~ 

* Filed 11/25/15 

Payroll Funding Company, LLC will supply marketing services to AmeriResource Technologies, Inc. on the following terms and conditions: 

1) Effective Date hereof is December 1, 2015 

To be signed by: 

* PAYROLL FUNDING COMPANAY, LLC ~ Lisa Nelson, Officer 

* AMERIRESOURCE TECHNOLOGIES, INC ~ William R Robins, President 

 

AmeriResource Technologies >>Bankruptcy (chapter 11) Time-Line ~ 

https://www.pacermonitor.com/public/case/8758469/AmeriResource_Technologies,Inc 
 

DEFINITION of 'Chapter 11'

Named after the U.S. bankruptcy code 11, Chapter 11 is a form of bankruptcy that involves a reorganization of a debtor's business affairs and assets. It is generally filed by corporations which require time to restructure their debts.

Chapter 11 gives the debtor a fresh start, subject to the debtor's fulfillment of its obligations under its plan of reorganization.    


 

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#14068  Sticky Note Here it is clearly mentioned that the assets Nadendla 12/27/15 04:37:47 PM
#13555  Sticky Note ARIOQ >>PacerMonitor upate re: 12/22/2015 Hearing Capstar 12/22/15 04:46:43 PM
#13476  Sticky Note AmeriResource Technologies Inc. $ARIOQ Stefa 12/12/15 06:08:01 AM
#14547   10 more trading days till march... Updated 02/13/16 05:45:54 PM
#14546   Maybe that was a type-o; should it be xero90 02/13/16 08:50:34 AM
#14545   LOL when you said a couple min. I confuciussay 02/12/16 02:56:03 PM
#14543   I think the trading will jump to 0.0007 Updated 02/12/16 01:23:19 PM
#14542   Eye's wide open on this one! confuciussay 02/12/16 10:15:58 AM
#14541   Yes, many people have their eyes on this one Updated 02/11/16 12:17:59 PM
#14540   Hmmmmmm ARIOQ thinking not too much longer till BigJuan 02/11/16 10:25:00 AM
#14539   When this gets going !!! Its going to Wall_Street_Wolf 02/10/16 09:59:32 PM
#14538   March madness is coming $$$$ STOCK_MOMO 02/10/16 10:59:26 AM
#14537   It is...i don't why but i am getting Updated 02/09/16 05:48:58 PM
#14536   Maybe its almost Q season? GreenMachine 02/09/16 09:22:40 AM
#14535   No worries bud take it easy Yukii 02/08/16 10:45:30 PM
#14534   Coool...thxxxxc Updated 02/08/16 10:45:11 PM
#14533   He means ughsq hit over 0.01 the float Yukii 02/08/16 10:41:43 PM
#14532   which one!? Updated 02/08/16 06:05:35 PM
#14531   Another Q stock up 600% today.. GreenMachine 02/08/16 11:16:20 AM
#14530   not that i know ....maybe, try ? D€N 02/08/16 04:53:34 AM
#14529   I would think that is a good place Markss40 02/07/16 12:47:38 PM
#14528   Has anyone tried to contact Robbins and talk mattybum 02/07/16 11:59:01 AM
#14527   I bought in about 4-5 years ago. james_west_1965 02/07/16 09:04:22 AM
#14526   I agree. Been holding my small lotto for Techguy26 02/07/16 08:48:12 AM
#14525   I bought 4 million more on the 4th. james_west_1965 02/06/16 12:59:35 PM
#14524   Idem dito! Stefa 02/06/16 03:26:30 AM
#14523   Same here Updated 02/06/16 01:06:53 AM
#14522   "I am watching this one closely !!! ;-) Wall_Street_Wolf 02/05/16 08:22:35 PM
#14521   Sleep on it for 2 month max Updated 01/30/16 11:50:27 PM
#14520   When do you think action time is? mattybum 01/30/16 02:10:35 PM
#14519   Getting closer to action time Updated 01/29/16 01:43:07 PM
#14518   gl there tan ;) D€N 01/28/16 08:46:30 AM
#14517   Agree, Looking fwd. TY, PM, will DD. Added tan1959 01/28/16 08:14:17 AM
#14516   yup Tan ...we'll know in a few .... D€N 01/28/16 04:37:49 AM
#14515   Like watching water evaporate! Rite Angle$ 01/26/16 01:21:32 PM
#14514   I posted what a form 15 was, & Markss40 01/25/16 05:27:23 PM
#14513   6 years ago... Lol GreenMachine 01/25/16 04:50:35 PM
#14512   That was from 2010 winman 01/25/16 01:51:53 PM
#14511   That was from 2010 winman 01/25/16 01:51:52 PM
#14510   Delmar is Out, Robins is In duelittle2 01/25/16 01:41:02 PM
#14509   ARIOQ Form 15 filed Jan 22, 2010 ~ http://www.otcmarkets.com/edgar/GetFilingPdf? Capstar 01/25/16 11:55:09 AM
#14508   Nice try?? What to try with this pos kura 01/25/16 11:43:02 AM
#14507   Capstar's link is from 2010. Nice try mattybum 01/25/16 11:33:44 AM
#14506   UNITED STATES Markss40 01/25/16 11:33:37 AM
#14505   Arioq going dark? Forms still showing Delmar as kura 01/25/16 11:25:47 AM
#14504   http://www.otcmarkets.com/stock/ARIOQ/filings Capstar 01/25/16 11:08:18 AM
#14503   I would try googling form 15 Markss40 01/25/16 11:00:39 AM
#14502   Where do you see that? maximus14 01/25/16 10:50:31 AM
#14501   Form 15 out. Any thoughts? Whats it mean? Jammiano 01/25/16 10:33:52 AM
#14500   Den, not sure, monitoring OTC Markets/Symbol Changes and tan1959 01/22/16 01:02:55 PM
#14499   wonder when we'll hear from the Court ... D€N 01/22/16 08:33:15 AM
#14498   If we succeed then good and trust me Updated 01/22/16 08:04:57 AM
#14497   Guessing less than 100M. The ask seems to tan1959 01/22/16 04:46:09 AM
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