This acquisition, through an assignment of purchase contract, will be paid for through the issuance of, $2,500,000.00 in Convertible Promissory Note, yielding 2% interest-only (against assignment of rental income & leases), convertible into 10,000,000 shares of GLER common stock.
10,000,000 x .25 = $2.5 million Frankel puts $1,000,000 into GLER's bank account according to the 8k
Clean shell now in the commercial real estate biz with a profitable multi-residental rental unit with more acquisitions to come
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