Empire Energy Corporation Intl. (fka EEGC)

[Howardhaftel]

Yes conditions change and it may be the same reason not to use the line of credit to buy the rights as drilling. it could turn into a financial nightmare. I see no problem if the line of credit were to the company. If the line is personal, payments will start and without income it would continue to snowball his debt. Using a personal line of credit for company business is not a good idea. If no hydrocarbons were discovered he would be on the hook for the loan. If the company were on the hook they could wipe out the loan or float stock to cover the payments.