A Google search turns up nothing. It appears to be a new entity just created for this investment.
They're going to receive 104 million shares for that 2 year loan. Since they get 12% on their money, they can borrow the funds, make a couple of percent a year for two years and then get their money back in addition to the 104 million shares for $1 million.
Nice deal. Sequiam must have been really hard up.
I see this dropping to well under 15 cents before coming back perhaps in the summer.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.