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Tuesday, July 14, 2015 2:28:11 PM
I do not see where one might have gotten that out of the following...
Terms of the Bayport/LeBonds joint venture are as follows, and will be reflected on our audited financials for the 3rd quarter of 2015.
$15,000,000.00 in total acquisition funding to Bayport over the course of 180 days.
$7,500,000.00 is to be received within 90 days, and $7,500,000 to be received within 180 days.
Acquisitions ownership and revenue are to be shared 80% to Bayport and 20% to LeBonds.
Annual 9% interest rate payable once a year, renewable or repayable after the first 2 years.
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