****IMPORTANT NEWS UPDATES****
ELED HAS MORE JUDGEMENTS AND CANT PAY THEIR BILLS
"During February 2017, the Company and LG Capital Funding, LLC (“LG”) entered into an agreement to settle all principal and interest related to an outstanding note with a face amount of $58,937 for $75,000, with payment being due in March 2017. The Company did not make the payment, and LG has brought an action against the Company in the Southern District of New York to collect damages for the breach, including consequential damages. We are disputing this matter and are vigorously defending ourselves against the matter.
As a result of our lack of available capital we are unable to pay many of our bills and outstanding promissory notes when they become due. While we ha&ve not been threatened specifically with litigation, it is impractical to believe or assume that our creditors will not pursue actions against us to collect balances due. Many of these obligations and agreements contain provisions requiring us to pay costs of collection and attorneys’ fees over and above the principal amounts due, which may increase these outstanding balances."
