Sanwire Corp (SNWR)

[Werbe]

Kanno Group converting most likely? Gotta watch for lawsuit now from LiveChime group also. Could see a good pop from them pumping their debt.

On November 1, 2023, the Company received a default notice from Kanno Group Holdings II Ltd. (“KGH-II”) on KGH-II’s promissory note in the amount of $320,442. KGH-II has provided Sanwire with ten business days to remedy the default. Pursuant to the promissory note, KGH-II has commenced charging 12% interest and KGH-II has the right to change the promissory note to a convertible note.

On November 1, 2023, Intercept Music Inc (“Intercept Music”), a wholly owned subsidiary of Sanwire, received a breach of agreement letter from an attorney representing LiveChime Inc. (“LiveChime”) stating that Intercept Music has failed to pay LiveChime a promissory note in the amount of $750,000 which stems from Intercept Music acquiring LiveChime in 2018 prior to Sanwire acquiring Intercept Music in 2020. Sanwire has requested complete documentation on the $750,000 promissory note which the attorney representing LiveChime has not provided yet.

On November 2, 2023 Intercept Music Inc (“Intercept Music”), a wholly owned subsidiary of Sanwire, received a breach of agreement letter from an attorney representing Digital Music Universe (“DMU”) stating that Intercept Music has failed to pay DMU a promissory note in the amount of $250,000 which stems from Intercept Music acquiring DMU in 2018 prior to Sanwire acquiring Intercept Music in 2020. Sanwire has requested complete documentation on the $250,000 promissory note which the attorney representing DMU has not provided yet.