Unique Logistics International Inc (UNQL)

[LJ-Bodhi]

Respectfully, may I clear up some confusion. This was not a $64k note. It was $1,111,000. Public filings confirm no default as any was continued to July '21.

It is the note holders option to say goodbye to their original $1 million loan/investment to the company and pay the company an additional $65k to get those 35 million shares. There were protection built into the note on the max percentage of OS that could be converted. The investor took risk on potential share buyback, poor company performance, etc. They decided now was a good time to convert and get the shares. They now want the price to go up as much as the rest of us.

The terms of these 2 convertible note deals were fair and the company got working capital it needed to grow business and (in my opinion) hopefully create a deal to absorb Hong Kong and India by end of May per the original purchase agreement.

These things have many layers and DD is key. Hope this helps you out.