Anyone know who Infinite Funding is in DOMK recent 10Q - looks like they are paying salaries of the newly hired execs...
Effective March 3, 2011, we obtained an unsecured loan in the amount of $75,000
from Infinite Funding, Inc. ("IFI") as evidenced by a Promissory Note from the
Company to Infinite Funding, Inc. dated March 3, 2011 (the "IFI Note"). The loan
proceeds were disbursed as follows: $50,000 on March 7, 2011, and $25,000 on
March 21, 2011. The maturity date of the promissory note was July 1, 2011. On
June 9, 2011, the Company entered into an Amendment to the Promissory Note with
IFI that amended the IFI Note to extend the maturity date to October 15, 2011,
and increase the amount of the line to $85,000 to provide for the Company to pay
an amendment fee of $10,000.
The IFI Note provides for interest at the rate of 3.00% per annum, payable
together with the principal amount at the maturity date, and is personally
guaranteed by our Chief Executive Officer. Upon an event of default, interest
shall accrue upon the total sum outstanding, from time to time, at the rate
equal to 18% per annum on a basis of a 365-day year for the actual number of
days in which any indebtedness under this promissory note remains outstanding.
Effective June 10, 2011, we obtained an unsecured loan in the amount of $75,000
from Infinite Funding, Inc. ("IFI") as evidenced by a Promissory Note from the
Company to Infinite Funding, Inc. dated June 10, 2011 (the "IFI Note"). The loan
proceeds were disbursed as follows: $25,000 on June 10, 2011, $25,000 or July
10, 2011, and $25,000 on August 10, 2011. The maturity date of the promissory
note is was October 15, 2011.
The IFI Note provides for interest at the rate of 3.00% per annum, payable
together with the principal amount at the maturity date, and is personally
guaranteed by our Chief Executive Officer. Upon an event of default, interest
shall accrue upon the total sum outstanding, from time to time, at the rate
equal to 18% per annum on a basis of a 365-day year for the actual number of
days in which any indebtedness under this promissory note remains outstanding.
