$1,700,000 cash deposit to a purchase of equipment costing approximately $7,200,000. The remaining balance MedRecycler-RI, Inc. has entered into an Indenture of Trust in the amount of $6,025,000.00 as bridge financing for a project in West Warwick, Rhode Island.
WOW! The CEO Mr. Campanella making an effort deferred with no interest of his salary $180,000, plus bonus, and award stock… until the Company has the funds to pay him back. At June 30, 2019 and December 31, 2018, the Company had accrued compensation of $687,364, and $631,166, that amount added up over FIVE YEARS POSTPONE WORKING WITH NO PAY. For the sake of company future success he sacrifice all this time his money and one million dollar that is his property. This is super high quality strong dedication. I see no other case like this occurred on the market. Read under Employment agreement. https://www.sec.gov/Archives/edgar/data/1343465/000149315219013084/form10-q.htm
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.