LZG International Inc (LZGI)

[LaFortuna]

These are three ($3m, $6m, $6m) short term Notes from the last 10Q which I'm very concerned about and HAVE NOT been addressed by Management. Several emails have gone unanswered!

NOT GOOD!

I would suggest any LONG to do the same thing I did, email and demand an update on these NOTES.

Is the May 11th Note below the culprit of our massive decline. We need answers or this will decline to a dime, in no time!

"On May 11, 2022, the Company assumed a promissory note from a related party in connection with an asset acquisition. The $3,000,000 note bears interest at 8% per annum and is payable on Demand, no later than July 5, 2023. There have been no payments of principle or interest for the loan as of February 28, 2023. Accrued interest at February 28, 2023 is $191,836

On June 17, 2022 in connection with the Prime Source Acquisition, the Company issued two promissory notes of $6,000,000 to each of the former owners of Prime Source. Each loan bears interest of 8% and is payable on prescribed dates per a payment schedule. The final payment is due December, 31, 2023. As of February 28, 2023, the remaining balance due is $9,000,000 of which none is considered long term. Accrued interest on February 28, 2023 is $481,133."