ID, I don't know where you get the $300,000 outstanding debt figure. In the 8-K filed June 3rd the outstanding debt to the debtors mentioned in the 8-K was "As at June 2, 2010, the Company owed an amount of US$455,981.65 (Four hundred and fifty five dollars and sixty five cents) plus the accrued interest, to these long term Loan Note Holders."
Today's 8-K doesn't say how much was paid to acquire the outstanding debt. It just say how much the outstanding debt was.
Posted by: ID Supermoney Member Level Date: Wednesday, July 14, 2010 3:09:52 PM In reply to: pblue who wrote msg# 138392 Post # of 138424 Send a link via email Share on Facebook Tweet this post Even the addition on this does not make any sense!!
Quote:As at July 12, 2010, the Company was indebted to Abaxis, Inc. in the amount of US$34,000 (Thirty four thousand dollars) plus accrued interest in the amount of US$230,994.54 (Two hundred and thirty thousand nine hundred and ninety four dollars and fifty four cents). This was the remaining balance due to Abaxis, Inc. in respect of a Loan Note issued to Abaxis, Inc. by the Company on October 1, 2008 and bearing interest at the rate of 10% (Ten percent) per annum.
On July 12, 2010, Abaxis, Inc. disposed of their Loan Note in the total amount of US$264,994.54 (Two hundred and sixty four thousand nine hundred and ninety four dollars and fifty four cents) to Sloane Investments, Inc.
As at July 12, 2010, the Company was indebted to Redwald Investment Group , Inc. in the amount of US$133,938.90 (One hundred and thirty three thousand nine hundred and thirty eight dollars and ninety cents) plus accrued interest in the amount of US$146,642.19 (One hundred and forty six thousand six hundred and forty two dollars and nineteen cents). This was the remaining balance due to Redwald Investment Group, Inc. in respect of a Loan Note issued to Redwald Investment Group, Inc. by the Company on October 1, 2008 and bearing interest at the rate of 10% (Ten percent) per annum.
On July 12, 2010, Redwald Investment Group, Inc. disposed of their Loan Note in the total amount of US$280,581.09 (Two hundred and eighty thousand five hundred and eighty one dollars and nine cents) to Sloane Investments, Inc.
As at July 12, 2010, the Company was indebted to Searchlight Exploration, LLC in the amount of US$130,000 (One hundred and thirty thousand dollars) plus accrued interest in the amount of US$132,883.03 (One hundred and thirty two thousand eight hundred and eighty three dollars and three cents). This was the remaining balance due to Searchlight Exploration, LLC in respect of a Loan Note issued to Searchlight Exploration, LLC by the Company on October 1, 2008 and bearing interest at the rate of 10% (Ten percent) per annum.
On July 12, 2010, Searchlight Exploration, LLC disposed of their Loan Note in the total amount of US$262,883.03 (Two hundred and sixty two thousand eight hundred and eighty three dollars and three cents) to Sloane Investments, Inc.
As at July 12, 2010, the Company was indebted to Soft Trade, Inc. in the amount of US$58,042.75 (Fifty eight thousand and forty two dollars and seventy five cents) plus accrued interest in the amount of US$65,474.46 (Sixty five thousand four hundred and seventy four dollars and forty six cents). This was the remaining balance due to Soft Trade, Inc. in respect of a Loan Note issued to Soft Trade, Inc. by the Company on December 1, 2008 and bearing interest at the rate of 15% (Fifteen percent) per annum.
On July 12, 2010, Soft Trade, Inc. disposed of their Loan Note in the total amount of US$123,517.21 (One hundred and twenty three thousand five hundred and seventeen dollars and twenty one cents) to Sloane Investments, Inc.
As at July 8, 2010, the Company was indebted to St James Capital Holdings, Inc. in the amount of US$100,000 (One hundred dollars) plus accrued interest in the amount of US$25,994.52 (Twenty five thousand nine hundred and ninety four dollars and fifty two cents). This was the remaining balance due to St James Capital Holdings, Inc. in respect of a Loan Note issued to St James Capital Holdings, Inc. by the Company on October 31, 2008 and bearing interest at the rate of 10% (Ten percent) per annum.
2
On July 8, 2010, St James Capital Holdings, Inc. disposed of their Loan Note in the total amount of US$125,994.52 (One hundred and twenty five thousand nine hundred and ninety four dollars and fifty two cents) to Sloane Investments, Inc.
TOTAL AMOUNT OWED TO SLOANE INVESTMENTS, INC. AS THE COMPANY’S SOLE LONG TERM LOAN NOTE HOLDER
Following the acquisition of these Loan Notes and the settlement of the accrued interest to date, as at July 12, 2010, the Company owed an amount of US$1,057,970.39 (One million fifty seven thousand nine hundred and seventy dollars and thirty nine cents) to Sloane Investments, Inc. as its sole Loan Note Holder.
So what was the total paid??
Add them up!!
And there was only prior to this $300,000.00 not paid off before!!
ID
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