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Re: kabunushi post# 265080

Saturday, 02/15/2020 2:13:44 PM

Saturday, February 15, 2020 2:13:44 PM

Post# of 708878
Two additional points:

Linda Powers' loans were "demand loans" per SEC financial statements.

As of the latest 10-Q, they still haven't finalized the terms on the warrants related to the loans. I consider this inexcusably poor corporate governance.

"On November 11, 2018, the Company and Ms. Powers agreed to further extend the forbearance on the notes to a maturity of one year following the respective funding dates. In consideration of the continuing forbearance, the Company agreed to issue warrants representing 50% of the repayment amounts of the Convertible Notes. The Company has not yet finalized the terms of the warrant agreement."
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