Does this Loan mean they owe Emerald $400,000?
How are they going to pay this back?
From the way I read this. They are borrowing money to get money, is this correct?
"issued a fifteen (15) day promissory note in the amount of $200,000 in connection with a loan of the same amount it received from Emerald Asset Advisors"
"On December 1, 2009, Eternal Image, Inc. (the “Company”) issued a fifteen (15) day promissory note in the amount of $200,000 in connection with a loan of the same amount it received from Emerald Asset Advisors (“Emerald”) of 425 Broad Hollow, Melville, NY 11747. Emerald is a shareholder of the Company. The proceeds of the loan are being used to assist the Company in meeting the lender requirements of a line of credit it is presently negotiating with a third party lender. The primary provisions of the Emerald promissory note are.
GO GATORS
statements made by me are considered opinions of mine unless those statements are made of facts.
