Blum Holdings Inc (BLMH)

[longanisa]

My take on 8-k. From what I gather, tell me if I'm wrong...I'm slow at reading through legal jargon.


On feb 5, trtc entered into financing agreement, filing the initial 8-k form that guaranteed them up to 6.5million in funding backed by convertible notes in company shares that had a conversion price of .30 a share. The initial funding was $800,000. After a second installment of another 800k, The rest was received in 550k chunks. Starting august 5 at the end of every month, trtc will be paying back 1/12 of the face value of the notes. This means at the end of each month the notes can begin to be converted. They had a clause that so long as the pps was above .30. The conversion price would remain the same. This current 8-k filing, secured the rest of the 6.5 million in financing. Trtc can prepay the principal at any time.

So what does this mean?
IMO Looks like trtc is confident it's gonna meet earnings, maybe even start paying off its debt.

And it looks like they have a ton of funding for the rest of the year.

Someone please clarify if I'm way off.

For your reference:

Initial Feb 5 8-k:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=9759870

Aug 5 8-k:
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10134048