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Friday, January 01, 2016 10:56:13 AM
The Note is scheduled to mature on June 24, 2017 (the “Maturity Date”).
What is significant is the additional borrowings available to the company.
we can request up to $9,250,000 of additional loans
This easily takes care of the other short term borrowings coming due and any operational needs as they continue to grow towards profitability.
The company has done well so far in protecting it's shareholders from dilution and I expect they will do the same w/this note.
We may prepay borrowings at any time, in whole or in part, without penalty.
If the revenues continue to grow as they have over the past year VHUB will be cash flow positive very soon and will be able to prepay the note prior to it's maturity date.
2016 is going to be an entertaining year for the company.
All the best,
Knife
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