Loch Harris (Old)

[Crow3]

Today is 31 JULY. The other lenders of up to 1.5 million are due on board todsy.

The clock is ticking along at 12 percent interest. First payment due in six months. In addition to all the accumulated interest one twenty fourth of the Principal ill be due when the first six months are up. All that will take more money than CDEX is likely to make selling stuff.

So they will take shares instead.

If the SP is below 30, the coversion rate will not be 30 cents a share. The conversion rate will be figgered on a volume weighted average SP over a ten day period just before the payent is due.

If the SP goes up above 30 cents, The conversion rate will still stay at 30 cents. Even if the SP goes to a buck or more.




Ole Crowe