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Re: GOLDBUFFALO post# 4244

Friday, 09/30/2016 3:58:25 PM

Friday, September 30, 2016 3:58:25 PM

Post# of 7274
Debt to Kirschen is gone & other loans reworked:


In the Release Agreement, the Company also agreed to issue to Mr. Kirschen 5,000,000 shares of Series A Stock, and 1,000,000 shares of newly designated Series B Preferred Stock of the Company, par value $0.0001 per share (the “Series B Stock”), and Mr. Kirschen agreed to forgive $438,767.35 that was owed by the Company to Mr. Kirschen (the “Debt”). See Item 5.03 below for a description of the Series A and Series B Preferred Stock.
www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11463689



Also, Bafer's loans have been reworked on new promissories out until August 2017 without penalty.

On July 20, 2016, Carolco Pictures, Inc. (the “Company”) entered into that certain Amendment to Promissory Notes (“Notes Amendment”) with Alexander Bafer, whereby the maturity date of each of our five loans from Mr. Bafer was amended to be August 1, 2017 instead of October 1, 2015. The five loans are represented by Replacement Convertible Promissory Notes (“Notes”). Pursuant to the terms of the Notes Amendment, Mr. Bafer waived any default under each of the Notes through the date of the Notes Amendment as a result of any amounts payable under the Notes not being paid as of October 1, 2015 and waived the payment of any Default Interest (as defined in the Notes) through the date of the Notes Amendment as a result of such failure of payment. No other terms of the loans changed, and we did not pay any consideration for the extension. Our outstanding balance on the loans under the Notes as of July 20, 2016 was approximately $468,662.


http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=11504977

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