Tuesday, April 21, 2015 1:30:56 PM
http://ih.advfn.com/p.php?pid=nmona&article=64740919
LEAGUE CITY, TX, United States, via ETELIGIS INC., 12/10/2014 - - ERF Wireless Inc. (OTCQB: ERFB) announced today that on December 4, 2014, it closed its second lease schedule with its Senior Lender, WISPer Ventures Leasing LLC, in the amount of $1,250,435 under a $2,500,000 three-year Master Lease. Funds received previously under the first lease schedule of $403,000 were dedicated to the repayment of convertible debentures and that process is ongoing. Under the terms of the second lease schedule, the financing proceeds were used to retire our remaining ERF Wireless Inc. bridge loan and to restructure another term loan. Specifically, the unpaid existing balance of a $1,000,000 bridge loan with three individuals was completely paid off including penalty and interest. In addition, a term loan with Dakota Capital Fund LLC, a South Dakota limited liability company, and was paid down by $603,970.56 and the balance was restructured as an interest only one-year note due December 4, 2015.
Officers and Directors: Dr. H. Dean Cubley 2,151,807, Richard R. Royall 95, R. Greg Smith 106, Dr Bartus H. Batson 120, Manny M. Carter 1,000,813, Tim Maxson 0, (6 persons) 3,152,941 0.24% - NOT EVEN 1% COMMON SHARE OWNERSHIP.
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