Do your dd guys...Read this very carefully I made it very simple for all.
The total purchase price of the facility was $4,500,000,of which Supreme paid $1,000,000on closing out of available funds,and assumed a vendor mortgage of$3,500,000,payable on the SECOND ANNIVERSARY DATE from closing. No interest will accrue in the first year, but the mortgage bears interest at 7% during the remaining year.
What this means is Supreme doesn't start paying till the 2nd year.
In year 2 though they will pay the full 7% interest for the 3.5 million so that equals out to 245,000.00 CAD. So in all likelihood Supreme would owe 245,000.00 on May 2016.
Good luck Supreme shareholders the time is nigh. Hold on tight.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.