They have the financing in place,
Except they do not. They don't have any money. Every penny they get is gone already. You do realize that your "great CEO" has sent the stock price down 99% and destroyed every single business the company has had including vending machines, vaporizers, pot stores and growing hemp. EVERY single thing they have done has been a complete and utter failure. Yet management takes hundreds of thousands of dollars home....
Pg 49 10Q
"We are actively seeking additional financing over the next few months to fund operations"
"One of the Company’s significant creditors has issued a Notice of Default to the Company, triggering penalties and the potential acceleration of amounts
due under the defaulted Note.
On September 22, 2016, the Company received notice of an Event of Default and Acceleration (the “Notice Letter”) in connection with that certain Promissory
The Company was delayed in filing this Quarterly Report on Form 10-Q and such delays may have triggered other events of default under the
Company’s credit agreements and existing debt instruments
The Company’s creditors may issue other notices of default and the Company may incur other penalties due to breach of covenants in the Company’s debt
First Investor Letter Agreement
Pursuant to the letter agreement with the First Investor (the “First Investor Letter Agreement”), the First Investor agreed to waive, until October 31, 2016, any
defaults relating to the requirement to reserve shares of common stock in excess
On September 22, 2016, Notis Global, Inc. received notice of an Event of Default and Acceleration (the “ Notice Letter ”) in connection with the promissory note
(the "Note"), dated March 14, 2016,
Second Investor Letter Agreement
Pursuant to the letter agreement with the Second Investor (the “Second Investor Letter Agreement”), the Second Investor (on behalf of itself and its affiliates) also
agreed to waive, until October 31, 2016, any defaults relating to the requirement to reserve shares of common stock
As a result of the effect of the Notice Letter, other of the Company’s lenders could issue similar notices of events of default or acceleration or penalties due to the
Company’s Event of Default set forth in the Notice Letter.
