Resonate Blends Inc (KOAN)

[Exitech]

Something Fishy About 8K

From May 20 2015 10Q

On February 27, 2015, we entered into a Second $50,000 Note Restructure Agreement with note holder. Under the Agreement, we are obligated to pay Reality $20,000 from the proceeds of the loan from a note issued during quarter. We also agreed to pay the remaining principal balance of $30,000 along with accrued and unpaid interest if we secure an additional loans in the future.

Looks Like A Note Would Be Paid "IF Company Secured Additional Loans" Also Looks Like There Was More Going On Here.

From Most Recent 10Q

We anticipate needing approximately $1,000,000 in the next 12 months. We only have $9,235 in cash as of June 30, 2015 and this amount is not sufficient for our needs.

Also From Most Recent 10Q

As of June 30, 2015, the Company has an accumulated deficit of $942,046

And They Paid Cash??

Must Have Borrowed Cash From Peter To Pay Paul! Not Free And Clear Here.

TXHD