Innovative Food Holdings Inc (IVFH)

[greasemonkeyshoes]

We(Sam and his company) are unstoppable......
charging ahead.
Acquisition of Facility:
On Aug 9 2019 the Company entered into an agreement to acquire a warehouse and logistics facility (the “Facility”). The Facility is 200,000 square feet and is situated on approximately 15 acres of land, in the general area of the Company’s current warehouse in Pennsylvania. The purchase price is $4.5 million, and the transaction is contingent on the Company receiving a loan for not less than 85% of the purchase price at a rate not above 6% and not less than a 20-year amortization period. The purchase is also subject to a 45-day review period in which, if the Company determines that the property is unacceptable, the Company can terminate the agreement at its sole and absolute discretion
or
cash from 3.2(million) to 2.5
long term debt from 0.9 to 5.0
debt service charge of $75k more per q
plus
relocation and upgrade fees of $500K?
don't forget to reserve a nice window office for the boss too.
Question:
Is Sam playing all in with ivfh??