SURG FACT MASSIVE OUT OF CONTROL DEBT RAPIDLY EXPLODING!
COX IS TAKING OUT MONTHLY LOANS AT CRAZY INTEREST RATES JUST TO KEEP HIS FAT PAYCHECKS ROLLING IN AS HE PLAYS FAKE BIGSHOT CEO! THE END IS NEAR!
On November 4, 2019, the Company entered into a promissory note agreement with a lender for the principal sum of $250,000. The note has a maturity of twelve months and bears interest at a rate of 18% compounded annually with an additional 100,000 shares of Company restricted stock.
On November 6, 2019, the Company sold a promissory note in the principal amount of $100,000.00 (the “AN Note”) to AN Holdings, LLC, a Nevada limited liability company of which Mr. Anthony P. Nuzzo Jr., Chief Operating Officer of the Company and a member of the Company’s board of directors, is a managing member (“AN”). The AN Note accrues interest at a rate of fifteen percent (15%) per annum. On November 7, 2019, the Company repaid the outstanding balance of the AN Note.
On November 4, 2019, Surge Holdings, Inc. (the “Company”) sold a promissory note in the principal amount of $250,000.00 (the “Mitchell Note”) to Jack D. and Vanessa J. Mitchell, individuals (the “Investors”). The Mitchell Note accrues interest at a rate of eighteen percent (18%), compounded annually with an additional 100,000 shares of common stock of the Company. The Mitchell Note matures on November 4, 2020 (the “Maturity Date”) and it can be prepaid by the Company, in whole or in part, without penalty, at any time.
On October 7, 2019, Surge Holdings, Inc., a Nevada corporation (the “Company”), entered into a Securities Purchase Agreement (the “Agreement”), severally and not jointly, with BHP Capital NY Inc., a New York Corporation (“BHP”), Armada Capital Partners LLC, a Delaware limited liability company (“Armada”), and Jefferson Street Capital LLC, a New Jersey limited liability company (“Jefferson”), (“Buyer” or collectively the “Buyers”). In connection with the Agreement, the Company issued three (3) notes, one to each Buyer, and three (3) warrants to purchase the Company’s common stock, one to each Buyer. The aggregate purchase price of the notes is $375,000 and the aggregate principal amount of the notes is $405,000.
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