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Thursday, December 22, 2022 2:59:10 PM
Lender agreement signed
In May of 2022, the company signed an agreement with a lender, the lender is to provide $30,000,000 for the Port of Tampa real estate closing. At the closing, the company shall pay the lender normal lender fees, legal and title fees associated with the transaction along with a "bonus" in the amount of $3,000,000. At the closing table and simultaneously with the execution of the loan the company shall transfer from escrow 4,285,174 (calculated at .70 per share) shares in lieu of the $3,000,000. At the time of issuing the financial statements this closing has not occurred (see Note 12) and is currently scheduled for November 2022. The stock certificate evidencing these shares has been placed in escrow, and will only be issued in conjunction with the anticipated closing. Should the closing not occur, for any reason whatsoever, the share certificate will be returned to the transfer agent.
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