Cardinal Resources Inc fka CDNL

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Recap on debt reduction

There have been 2 current 8-Ks about CDNL paying off convertible promissory notes

The first one dealt with two notes
(1) $35,99526 and
(2) $202,598.75

1st 8-k

The second 8-K dealt with six notes.
(3) was 2 notes for a aggregate amount of $80,000 and
(4) 4 notes with a aggregate value of $100,000

2nd 8-K



Here are the agreed upon scheduled payoff list by note (*), payment date, payment amount

(1) 17 May $17,997.63

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(2) 3 Jun $50,649.69
(1) 10 Jun $17,997.63
(2) 17 Jun $50,649,69
(3) 17 Jun $40,000.00

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(2) 1 Jul $50,649.69
(3) 1 Jul $40,000.00
(4) 8 Jul $25,000.00
(2) 15 Jul $50,649.07
(4) 18 Jul $25,000.00
(4) 28 Jul $25,000.00

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(4) 8 Aug $25,000.00

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So as you can see KJ paid:

$17,997,63 in May and as of tomorrow should have paid $159,297.01 for Jun.

The payments for these 2 months total $179,976.33

In Jul he is scheduled to pay $216,299.38

with a final payment of $25,000.00 in Aug

For a total of $418,594.02

paying off all eight (8) convertible promissory notes.

I hope KJ with tweet tomorrow that he has successfully met all the scheduled payments.

IMO it would be a BIG boost for the company' reputation and put aside any doubts about his commitment to the company's bright future.


(God, I hope all my figures add up correctly !!!)