This is too funny - a company that is supposed to have $20 million in revenue but has to use toxic financing - GRAS first used NGen to pump their stock - now they have been suspended and revoked.
Here is the most recent toxic funding:
On August 13, 2019, Ngen issued a convertible promissory note to More Capital, LLC, a Minnesota limited liability company, in the principal amount of $215,000. The note bears interest at 10% per three-month period with balance due and payable on August 15th, 2020.
On August 15, 2019 Ngen issued a convertible promissory note to Carebourn Capital, LP, a Delaware Limited Partnership (“Carebourn Capital”), in the principal amount of $215,000. The note bears interest at 10% per three-month period with balance due and payable on June 28, 2020.
On September 3, 2019, Ngen issued a convertible promissory note to Carebourn Capital in the principal amount of $69,875. The note bears interest at 10% per three-month period with balance due and payable on September 3rd, 2020.
Net Cash Provided by Operating Activities. Cash provided.
Damn, $20 million in revenue but they need $500,000 for operations - that is too funny!
IG
"The Hour Between Dog and Wolf"
