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dsouth

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dsouth

Re: rickn23 post# 31657

Tuesday, 08/16/2016 8:46:36 AM

Tuesday, August 16, 2016 8:46:36 AM

Post# of 34405
Page 13 of the 10Q they mention the two options if repayment cannot be met. I'm hoping its the previous of the two.


The Company entered into a promissory note for $680,000 from a party with which the Company has a joint venture. The balance currently outstanding is $680,000. The advances bear interest at the Prime Rate announced by Citibank, N. A., from time to time, and are to be repaid on December 31, 2016, unless sooner due as a result of a change in control of the Company or the Company's bankruptcy. The Note may be prepaid, in whole or in part, at any time without penalty.
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