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Post# of 82575
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Tesla_se

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Tesla_se

Re: gitreal post# 66544

Wednesday, 11/16/2016 2:02:32 AM

Wednesday, November 16, 2016 2:02:32 AM

Post# of 82575
How about an annual report. 400% interest seems excessive. Don't think they will be able to sue a company in ch.11?

"On March 11, 2016 the Company entered into a revenue based factoring agreement with PowerUp Lending Group, Ltd.(“PowerUp”) Under the terms of the agreement the Company received $100,000 for the purchase of $131,000 of future receivables to be repaid by weekly repayments of $3,899. If the Company has an outstanding balance due PowerUP, any additional financing by the Company must be with PowerUP or be approved by PowerUP. Management is uncertain of the outcome of the suit."
https://www.sec.gov/Archives/edgar/data/1373444/000149315216011263/ex99-1.htm
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