Remedent, Inc. (REMI)

[CHM_760]

I stumbled across REMI on another message board and, in performing my DD, came across the most recent 8K filing in March. I cannot understand the need for the $400k loan, especially at such a high interest rate. Based on the December financials, there should have been plenty of cash available... Can anyone here provide any insight? TIA.

As reported under Item 1.01. of this Current Report on Form 8-K (this "Form 8-K"), the Company obtained a loan from Mr. Taff in the principal amount of $400,000 on March 25, 2011. In connection with such loan, the Company issued a secured promissory note in favor of Mr. Taff pursuant to which Company agreed to repay Mr. Taff an aggregate amount of $500,000 by December 31, 2011