No. THIS is funny:
This is a real hoot:
On October 15, 2010, Spur Ranch received loan proceeds of $45,000 from China Mezzanine, Inc. an interim lender. China Mezzanine, Inc. is owned and controlled by Mssrs. W. Andrew Stack and Jeremy Stobie. The terms of the loan provide for 18% annual interest, as well as 150,000 shares of restricted common stock as inducement to make the loan.
So loan money came to the company, from a company owned by the SPRA management, and EIGHTEEN PERCENT interest was charged by themselves to themselves AND in addition issued themselves 150,000 shares as an inducement. An inducement? ROF!
That's like going to your checking account and writing a check to yourself with the intention of putting it back it there, but then charging yourself interest, AND giving away an ownership percentage of your car to, well, yourself as an inducement to write that check to, well, yourself .
This is insanity, lol!
Hey ranch dudes, how about loaning the company money from your own pockets at NO interest? 18%? 18%? Criminal.
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