Tuesday, December 06, 2022 10:47:25 AM
For the quarterly period ended September 30, 2022
https://www.otcmarkets.com/filing/html?id=16018411&guid=0nG-ke5HEt7fJth
b. Mortgage loans
The company has a mortgage loan as disclosed in note 12 above. The mortgage loan matured on July 19, 2022 and the Company currently owes $3,490,791. The terms of the loan are currently being negotiated.
22. Subsequent events
Subsequent to September 30, 2022, the Company re-negotiated the deposit payable for the acquisition of the Evernia building , in which the treatment center is housed from $1,500,000 to $350,000 which was paid on October 3, 2022. The expected closing is expected to be February 1, 2023. The Seller will provide financing of $4,000,000 at a coupon of 6.36% per annum, with interest only payments of $21,217 per month.
22. Subsequent events
For the quarterly period ended June 30, 2022
https://www.otcmarkets.com/filing/html?id=16018411&guid=0nG-ke5HEt7fJth
On July 18, 2022, the Company, through its subsidiary Evernia, entered into an option and Memorandum of Understanding Purchase, Sale and Financing Agreement, with the Evernia landlord, Evernia Station Limited Partnership (“Seller”), whereby the Company paid $50,000 for the option to acquire the building on September 30, 2022 for $5,500,000, with a deposit of $1,500,000 due on September 30, 2022, the $50,000 option price to be applied to the deposit. The expected closing is expected to be February 1, 2023. The current rental of $27,783 was reduced to $20,206 on payment of the option price of $50,000. The Seller will provide financing of $4,000,000 at a coupon of 6.36% per annum, with interest only payments of $21,217 per month. The term of the seller funding will be one year, due and payable on January 31, 2024.
Everything that I post is just my informed opinion and is simply an invitation to debate. Trade on your own due diligence please..
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