Skin in the game!!!!
This gives me some confidence.
All the directors have agreed to lose their own personal shares and other personal assets to back this loan. If that not a motivator to turn this company around I’m not sure what is.
I’ll make my mind up from the Q3 report after the streamlining of the business is complete.
Form 8-K
Pursuant to the terms of the Loan Documents, Mr. Kamal Abdallah, the Registrant's Chief Executive Officer and a member of the board of directors, and Mr. Christopher McCauley, the Registrant's Vice President and Secretary and a member of the board of directors, each agreed to the use of their respective shares of the Registrant's Series A Convertible Preferred Stock and other personal assets, as additional collateral for the Term Loan and to execute and provide personal guarantees for the repayment of the principal of the Term Loan and for the completion of the other commitments of the Registrant under the terms of the Loan Documents.
