Monday, June 04, 2007 8:25:26 AM
From the promissory note:
Interest shall accrue from the date of this Note on the unpaid principal amount at a rate equal to TEN and .449 PERCENT (10.459%) simple interest per annum
If agreed by the Holder, Maker may pay off the loan at maturity in stock in lieu of cash in "restricted shares" (as defined in Rule 144 under the Securities Act of 1933, as amended) of Maker's Common Stock, $0.0001 par value,
(OShare(s)O) or a combination of cash and Shares. Any Shares issued hereunder shall have a value of twenty cents ($0.02) per share for purposes of calculating the amount of Principal or Interest paid by the issuance of each Share.
Maybe they should hire someone to proof their SEC filings.
Regards
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