My Freightworld Technologies Inc (MYFT)

[Kurupt]

LIQUIDATING THE “SINS OF THE PAST”
SELECTED LIABILITIES FROM PREVIOUS ERA
•$342,000 Bank principal and interest—fixed rate term loan 2012 obligations
•~$200,000 Capitalized but unbooked software expense
•~$192,000 Accounting error by prior CPA
•$119,500 settlement
•~$14,000 settlement
•$51,000 current balance of Company B settlement
•$57,000 settlement
•$29,000 former business credit card
•$9,000 settlement balance
TOTAL: $1,000,000 + less $400,000 covered by outside capital, cash flow & other = $600,000 +
- “Original Sins” totaled $1,443,000 at their inceptions
- Company has paid down or operated through ~$823,000 already through Preferreds, Bridge, negotiation, and other
- Settlements impair operating flexibility but will be extinguished by year-end
- Return on investment from extinguishing settlements now would exceed 50%/yr. but is not required for company to survive and ultimately thrive