Monday, February 08, 2021 4:46:59 PM
Now that the company is current all the debt holders are free to dump their shares too! Golly, does anyone wonder who the nameless "investor" in the filings is?
NOTE 5 –Long TermDebtIn 2012, the company carried an outstanding long term debt balance in the form of four convertible promissory notes (the “Notes”) which as of June 30, 2013, totaled $2,479,957 in principal and accrued and unpaid interest and fees respectively. The Notes are held by an individual and two non-affiliated companies (collectively, the “Noteholders”) and carry certain conversion privileges for equity of the company’s common stock. The Noteholders may demand repayment by the Company of all principal and interest of the Notes through the date of its repayment request, plus interest, at any time upon thirty (30) days written notice to the Company after one (1)year.Each Noteholder is entitled, at its option, at any time or from time to time, and in whole or in part, to convert the outstanding principal and accrued interest amounts of any Note, or any portion thereof, into shares of the common stock of the Company, in accordance with any and all federal and state regulations
https://backend.otcmarkets.com/otcapi/company/financial-report/261663/content
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