He will need almost a $2,000,000 loan. $850,000 for the debt on the new acquisition. Under the terms of the agreement Elite will assume a bank note of $850,000 and other specifically identified expenses.
And $804,410 for the NET Convertible promissory notes that the company has outstanding now as per the latest 10Q. Convertible promissory note payable netas of June,30,2017 $804,110
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