Green Parts International Inc (fka GNPT)

[ANIA77]

Here is my favorite part of GNPT DD:

check out 10k Note 12:

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10627638

During the year ended December 31, 2014, the Company was relieved of liabilities from loans to Piedmont bank. This debt was assumed by Asif Balagamwala and the Company did not have to repay the loan. Therefore a related party liability was recorded at that time.


If you look at Note 6 - Bank Loans and Long-Term Leases
there is :
1. Bank term note of 34 equal payments at 6.5% with a maturity date of July 1, 2015. This note was secured by the property on 844 Regina Drive owned by the president, Asif Balagamwala, and the business assets.
Total of $2,227,939 that is shown in 2013 is now $0 at 10k for 2014 because CEO took over this debt; show me which CEO in pinky world does something like this.. our CEO is in it to win it imo...