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Pennyland. Pennyland. Pennyland. I WANT PENNYLAND!!
GRLT IMO. . .
Information provided in the lead in to the Intro (everything prior to +++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++)
is every bit as irrelevant as anything coming from Nay
PROOF OF NOTHING as it pertains to this Contract!
I'll even save you some time reading by highlighting the key points for you.
GRILLiT Inc. closes on $500,000 Funding Agreement
Financing Agreement Announcement | 06/08/2021
GRILLiT Inc. (the "Company") (OTC: GRLT) today announced that it has closed on a fixed rate $500,000 note with Mammoth Corporation.
The Company received the initial tranche of $50,000 on Thursday, June 3, 2021 and, upon consent of the lender, GRILLiT Inc. will be able to access additional funds on the same terms up to $500,000. This note is not convertible into common stock unless there is a default on the monthly installment payments. We also negotiated that with each tranche, the installment payments are deferred 90 days to allow for a buildout period of each future Pretzel Haus location. This note will be used to carry out our expansion strategy of The Pretzel Haus by funding the buildout to get us close to 10 locations in the greater Tampa market over the next 2-3 years.
Access to this funding is a significant step that will greatly strengthen our capacity to carry out the expansion of corporately owned locations. It also aligns with all the communications I have made that I do not have any plan to execute a reverse split and that I have no plans to authorize additional shares beyond what was authorized by previous management. GRILLiT Inc. was in a terrible position due to previous management who did not understand how a public company must be built on operations that are financially sound and not on the continuous authorization of shares to fund unprofitable operations. We developed a strategy to turn GRILLiT Inc. into a fun and exciting development stage restaurant business and are well on our way to implementing that strategy. At this time we are a very small company and some things will progress slowly, but we continue to work to find and attract additional partners who are willing to utilize fixed rate loans to further accelerate our expansion strategy. I believe that we now have the necessary funding in place to open 8-9 additional locations as we get closer and closer to the Grand Opening of our initial Pretzel Haus location in Palm Harbor FL at the end of July. Greg Mitchell
Exactly! Well said.
Hello CH0. So sorry to bother you again. . . This post needs to be reinstated. I went through the Request Review process but the Admin here is every bit as FUCKED UP as TDB. So could you please do the honors. . . unless there is actually something about it that is in anyway "Off-Topic"
I THINK NOT!
Post Date: 6/9/2021 6:16:31 PM in reply to 164299875 by tdbowieknife
Board: Grillit, Inc. Reason: Off-Topic
Investopedia:
What Is Toxic Debt?
Toxic debt refers to loans and other types of debt that have a low chance of being repaid with interest. Toxic debt is toxic to the person or institution that lent the money and should be receiving the payments with interest. Toxic debt generally exhibits one of the following criteria:
Default rates for the particular type of debt are in the double digits
More debt is accumulated than what can comfortably be paid back by the debtor
KEY TAKEAWAYS
Toxic debt refers to debts that are unlikely to be paid back in part or in full, and therefore are at high risk of default.
These loans are toxic to the lender since chances for recovery of funds are small and will likely have to be written off as a loss.
You have absolutely no idea what Greg knows
What you don't get. . . is that Greg would not have signed the agreement if he didn't already know how he would avoid defaulting on the loan payments.
The man has his plan and so far he is executing flawlessly.
When we get there... I can have some WAZOOO!!! Oh goody! GO $GRLT!!!
Crazy Horse posted today's new in the Ibox. But here ya go:
https://www.otcmarkets.com/stock/GRLT/news/GRILLiT-Inc-closes-on-500000-Funding-Agreement?id=306307
GRRRR8 news for GRRRRILLiT!! Here we go $GRLT$
THANK YOU!!! It needs to be said.
Share dilution (Issuance of additional shares and convertible notes) although harmful to existing shareholders does not constitute fraud.
Greg spoke out emotion and frustration as an angry and disgruntled Shareholder at that time with no access to financials or insider information.
Greg has publicly disclosed that he provided all the previous records to attorney generals, SEC, etc.
Greg has assured his shareholders there will be no share dilution under his leadership. Greg is focused on moving GRLT forward with his Business Plan.
In rebuttal to this distorted and deceptive claim posted in the Intro Box:
New "CEO" has NOT disclosed the many years of fraud grillit was used to commit.
CH0
I wish to post a rebuttal to the misrepresentation of my correspondence with Gregory Mitchell back in January of 2016.
(Yes, that would be OVER 5 YEARS AGO!!!)
I feel it is very important to explain how deceptive that lead in to the 'Intro Box' actually is. There is context around that correspondence that has been intentionally excluded for the purpose of deception! It would be great if the Intro box could be updated to include.
So let me point out a few things to begin with:
The correspondence took place long before Greg Mitchell became CEO.
Greg had no access to any of the financials, or insider information prior to 2018.
What Greg said in 2016, it should be realized, came from a shareholder as an emotional declaration of disgust over the mismanagement of the Company he had established a large investment interest in.
The purpose of my post chain was to demonstrate that Greg Mitchell is in fact an Honorable man with Integrity who is working toward building a successful business with GRLT.
And the reason:
Why would any legit business man want to start a legit business with a obvious penny stock scam that has a long history of fraud??
For the recovery, and prosperity of those shareholders who have long held shares of GRLT of course!!
Greg Mitchell has kept his word, and continues to deliver for his shareholders!
So here is the full content of my posts regarding Greg Mitchell's Integrity and determination.
This begins with my first introduction to the man.
*** Date: January 18, 2016 ***
cautiousoptimism Saturday, 03/06/21 12:56:11 PM
Re: None 0
Post #
16425
of 19700
Who is Greg Mitchell?
___________________________________
From: Greg Mitchell
Date: January 18, 2016 at 2:21:20 PM CST
To: undisclosed-recipients:;
Subject: GRILLiT - Please reply
Please reply back if you feel we need someone new to run this company. I personally have an unrealized loss of $250,000 and hundreds of hours because of this company.
About Me:
I was the Chief Investment Officer for a regional Investment Firm managing over 750 million in assets
I have been at publicly traded fortune 500 companies for 20 years, the last 9 as a Sr. Executive at a company doing 2.5 Billion in sales annually.
I purchased the rights to a franchise here in Tampa
I have been a shareholder of Common Shares ONLY for 2 1/2 years (I have never owned a convertible note).
I believe that the product was excellent (I flew to the Nashville location and drove to the Miami location and discussed their financials and operations with both operators in 2014)
I also believe that if GRLT borrowed money from some people and they issued Convertible Notes, that is a debt that I believe is legitimate. If you provided valuable services such as web site design or marketing and they issued you a Convertible Note, that is debt that is most likely legitimate. If you were given a Convertible note and did nothing to add value to the company, that is most likely not legitimate.
I want to help those who have lost money because of this company. (Not sure how yet, but I'll figure it out)
I also want help this company run properly.
Feel free to reply to me and I will be happy to do my part to attempt to get the right things done. (Mr. Klein probably did't even realize he handed out the e-mails to 75 investors, not very professional, but thanks Henry for connecting me to everyone.)
Thanks,
Greg Mitchell
cautiousoptimism Saturday, 03/06/21 01:03:13 PM
Re: None 0
Post #
16426
of 19700
The question has been asked:
Why would any legit business man want to start a legit business with a obvious penny stock scam that has a long history of fraud??
And no matter the truth. . . repeated... and repeated... and repeated
cautiousoptimism Saturday, 03/06/21 01:20:24 PM
Re: None 0
Post #
16427
of 19700
It is quite simple and pretty straight forward:
On Jan 20, 2016 - I asked why he had never done anything with his franchise in Tampa:
_______________________________________________
From: Greg - Sent: Wednesday, January 20, 2016
I actually have a signed LOI to open one, but when Henry Klein became CEO, they sold the GRILLiT brand to GARR. Going forward my franchise fee now goes to GARR, not GRILLiT. Not one cent of my franchise fee goes to GRLT. That is not why I purchased over 65,000,000 shares. I believe in the GRILLiT brand and now they split my investment in half
I then dug in and uncovered a ton of misrepresentations of the company. The level of fraud is amazing.
_______________________________________________
On Jan 22, 2016 - I asked:
I definitely understand how upset you must be over this whole mess..... but couldn't you potentially be making money with a successful GRILLiT location?
________________________________________________
From: Greg - Sent: Friday, January 22, 2016
Who cares, the store was projected to make about 75K per year profit. I've lost 250K because of Ghazi, why would I open a restaurant to help him make money and not help my shares at all? It's the principle of the situation.
Also, it will cost another 250K to build-out the location and be up and running. I will not support that brand until I own the company in court along with 2-3 other people.. Then I will build the 5-6 stores I wanted to open....
I will not cut one check to these thieves who have taken approximately 4 million dollars from people
cautiousoptimism Saturday, 03/06/21 01:27:16 PM
Re: None 0
Post #
16428
of 19700
So why build a legitimate business using GRLT?
______________________________________________
From: Keith Wilkerson
Sent: Sunday, October 1, 2017 6:46 PM
Subject: Re: Seriously???? UNbelievable...!!!!!!!!!!!
This is Keith's dad . He can't do anything with this co as he doesn't have the resources. We are willing to turn this over to you shareholders if u want to step up.
________________________________________________
From: Greg Mitchell
Sent: Sunday, October 1, 2017 9:37 PM
Subject: Re: Seriously???? UNbelievable...!!!!!!!!!!!
Recommend to Keith (the dad) to have them turn it over to me.... it may take a while, but I will keep working for the shareholders.....
1¢ would be a terrific milestone!! GO GRLT$$
Kneading the Dough!
Loooonnng time holder here. . . . seen the worst of it.
My perspective? I have absolutely no complaints at this time.
Greg Mitchell is walking the talk!
Making things happen!!!
FIRING UP THE GRILLiT!!!!!
Greg Mitchell has kept his word, and continues to deliver for his shareholders!
January 2, 2018 – C Keith Wilkerson II resigned as CEO of GRILLiT Inc. with the Board electing Greg Mitchell to replace him as the CEO.
Press Release | 11/09/2020
https://www.otcmarkets.com/stock/GRLT/news/Update-to-Shareholders-Related-to-GRILLiT-Inc?id=279498
12/8/2020 - Greg Mitchell brings GRLT Current
https://www.otcmarkets.com/stock/GRLT/news/Financials-Released-and-Current---GRILLiT-Inc?id=283940
Press Release | 01/14/2021: PRESIDENT OF THE PRETZEL HAUS LLC ANNOUNCED:
https://www.otcmarkets.com/stock/GRLT/news/PRESIDENT-OF-THE-PRETZEL-HAUS-LLC-ANNOUNCED?id=286159
Press Release | 02/15/2021: GRLT Inc. Reports Annual 2020 Results:
https://www.otcmarkets.com/stock/GRLT/news/GRLT-Inc-Reports-Annual-2020-Results?id=289876
Press Release | 03/30/2021: https://www.otcmarkets.com/stock/GRLT/news/GRILLiT-Inc-Release-of-2021-Q1-Results?id=295406
Entry into a Material Definitive Agreement | 04/23/2021: First Pretzel Haus Location Secured:
https://www.otcmarkets.com/stock/GRLT/news/First-Pretzel-Haus-Location-Secured?id=299651
Press Release | 04/29/2021: GRILLiT Inc. Q1 Released Financials
OTC Markets | Official site of OTCQX, OTCQB and Pink Markets
Press Release | 06/02/2021: The Pretzel Haus - Grand Opening Announcement
The Pretzel Haus is expected to open this summer on or about July 30, 2021.
https://www.otcmarkets.com/stock/GRLT/news/The-Pretzel-Haus---Grand-Opening-Announcement?id=305611
STAY TUNED. . . . MORE GOOD THINGS TO COME!!!
Thanks to you!
WAZOO!!!!!
No way! janeyH still here.
No idea what PLFF is but I know it has nothing to do with GRLT.
Off Topic!
WAZOO!!!!!
I've been seeing you on GRLT. . . . noticed you used to post here but not so much anymore. Share your thoughts on HBRM?
WAZOO!!!!!
Curious. . .. what would be the point of releasing today when the markets are not trading?
I wholehearted agree
And as you can see I thought better of it:
cautiousoptimism Friday, 05/28/21 10:22:51 PM
Re: cautiousoptimism post# 18722 0
Post #
18733
of 18777
I must retract this little bit right here:
"everything prior to January 2, 2018 is meaningless to the Shareholders of GRLT".
It was just an incredibly stupid statement to make. I apologize for it.
Of course what happened to all of us (long term shareholders of GRLT) in the past could never be meaningless! We all suffered financial losses. Some were pretty tremendous losses! Greg Mitchell had no responsibility for those losses. Greg was one of us. Greg was an investor right there with us, beside us, among us. In addition to his stock shares Greg purchased a GRILLiT Master Franchise agreement for the SunCoast stretch of Florida.
It is our past experiences that fuel Greg Mitchell's 'drive' and determination to build a successful business with GRLT so that we all can recoup, recover, and prosper together.
Greg Mitchell has kept his word, and continues to deliver for his shareholders!
I must retract this little bit right here:
"everything prior to January 2, 2018 is meaningless to the Shareholders of GRLT".
It was just an incredibly stupid statement to make. I apologize for it.
Of course what happened to all of us (long term shareholders of GRLT) in the past could never be meaningless! We all suffered financial losses. Some were pretty tremendous losses! Greg Mitchell had no responsibility for those losses. Greg was one of us. Greg was an investor right there with us, beside us, among us. In addition to his stock shares Greg purchased a GRILLiT Master Franchise agreement for the SunCoast stretch of Florida.
It is our past experiences that fuel Greg Mitchell's 'drive' and determination to build a successful business with GRLT so that we all can recoup, recover, and prosper together.
-__-------_-------_-____----------__--__-_----_--__-_-__----__-_-
Greg Mitchell has kept his word, and continues to deliver for his shareholders!
At this point everything prior to January 2, 2018 is meaningless to the Shareholders of GRLT!!!!:
January 2, 2018 – C Keith Wilkerson II resigned as CEO of GRILLiT Inc. with the Board electing Greg Mitchell to replace him as the CEO.
Press Release | 11/09/2020
https://www.otcmarkets.com/stock/GRLT/news/Update-to-Shareholders-Related-to-GRILLiT-Inc?id=279498
12/8/2020 - Greg Mitchell brings GRLT Pink Current
https://www.otcmarkets.com/stock/GRLT/news/Financials-Released-and-Current---GRILLiT-Inc?id=283940
Press Release | 01/14/2021: PRESIDENT OF THE PRETZEL HAUS LLC ANNOUNCED:
https://www.otcmarkets.com/stock/GRLT/news/PRESIDENT-OF-THE-PRETZEL-HAUS-LLC-ANNOUNCED?id=286159
Press Release | 02/15/2021: GRLT Inc. Reports Annual 2020 Results:
https://www.otcmarkets.com/stock/GRLT/news/GRLT-Inc-Reports-Annual-2020-Results?id=289876
Press Release | 03/30/2021: https://www.otcmarkets.com/stock/GRLT/news/GRILLiT-Inc-Release-of-2021-Q1-Results?id=295406
Entry into a Material Definitive Agreement | 04/23/2021: First Pretzel Haus Location Secured:https://www.otcmarkets.com/stock/GRLT/news/First-Pretzel-Haus-Location-Secured?id=299651
Press Release | 04/29/2021: GRILLiT Inc. Q1 Released Financials
OTC Markets | Official site of OTCQX, OTCQB and Pink Markets
STAY TUNED. . . . MORE GOOD THINGS TO COME!!![/img]
Greg Mitchell has kept his word, and continues to deliver for his shareholders!
At this point everything prior to January 2, 2018 is meaningless to the Shareholders of GRLT!!!!:
January 2, 2018 – C Keith Wilkerson II resigned as CEO of GRILLiT Inc. with the Board electing Greg Mitchell to replace him as the CEO.
Press Release | 11/09/2020
https://www.otcmarkets.com/stock/GRLT/news/Update-to-Shareholders-Related-to-GRILLiT-Inc?id=279498
12/8/2020 - Greg Mitchell brings GRLT Pink Current
https://www.otcmarkets.com/stock/GRLT/news/Financials-Released-and-Current---GRILLiT-Inc?id=283940
Press Release | 01/14/2021: PRESIDENT OF THE PRETZEL HAUS LLC ANNOUNCED:
https://www.otcmarkets.com/stock/GRLT/news/PRESIDENT-OF-THE-PRETZEL-HAUS-LLC-ANNOUNCED?id=286159
Press Release | 02/15/2021: GRLT Inc. Reports Annual 2020 Results:
https://www.otcmarkets.com/stock/GRLT/news/GRLT-Inc-Reports-Annual-2020-Results?id=289876
Press Release | 03/30/2021: https://www.otcmarkets.com/stock/GRLT/news/GRILLiT-Inc-Release-of-2021-Q1-Results?id=295406
Entry into a Material Definitive Agreement | 04/23/2021: First Pretzel Haus Location Secured:https://www.otcmarkets.com/stock/GRLT/news/First-Pretzel-Haus-Location-Secured?id=299651
Press Release | 04/29/2021: GRILLiT Inc. Q1 Released Financials
https://www.otcmarkets.com/stock/GRLT/news/GRILLiT-Inc-Q1-Released-Financials?id=300420
STAY TUNED. . . . MORE GOOD THINGS TO COME!!!
nay, nay, and nay
I think there are plenty of people taking GRLT seriously now that Greg's leadership has brought GRLT to current status with a serious business plan for continuing development of GRLT.