Eco Building Products Inc. (fka ECOB)

[dade]

Just to clarify;

Since the Company had borrowed the entire $5,000,000 line of credit during the three months ended December 31, 2001, no further available credit exists under this agreement at this period.

So ECO has drawn 5 million dollars.
Note;

Effective July 26, 2011, the we obtained the ability to borrow up to an additional $5,000,000 on the revolving credit and warrant purchase agreement, in exchange for the issuance of warrants to purchase 50,000,000 shares of our common stock at $0.10 per share to MRL as a loan facility fee.  Of this amount $3,000,000 was borrowed in July 2011 and $2,000,000 was borrowed subsequent to December 31, 2011.  As of the date of this filing we had cash on hand of $72,799.

In the event MRL fully exercises the Warrant which was granted upon MRL shareholder approval of the Credit and Warrant Agreement on July 26, 2011, MRL would acquire an aggregate of 131,000,000 Shares representing approximately 54.5 percent of the resulting total issued and outstanding common equity of the Company, for an aggregate consideration of $10,000,000.

And Note;

So long as no events of defaults exist any loan may be rolled with another loan upon approval by the lender.