You would see a link for "IWEB News: Annual Transition Report (10-kt)" just on the ihub page just before the user post.
Make a search on these lines in this report. Note that it was released in Oct. 2014 and we don't know how much additional money the new owner has pumped in after this report and iceweb has not taken any additional toxic loan like previous management since unified online took over.
IWEB News: Annual Transition Report (10-kt)
Oct 2014
- 400,000 shares of Series AA Preferred Stock owned by UnifiedOnline! LLC,
- On April 23, 2014, we entered into a Subscription Agreement with UnifiedOnline! LLC (the “Subscriber”), a Delaware limited liability company, pursuant to which the Subscriber purchased 400,000 shares of Series AA Preferred Stock. In consideration for the Shares, Subscriber paid $116,087 to various vendors and obtained the agreement of a certain related party lessor to temporarily forbear exercising non-payment default remedies. Since entering into the Subscription Agreement, the Subscriber has advanced $664,578 bearing interest at 10% per annum to fund general working capital.
Please check above and share that if I am wrong and missing anything.
- Ice.
