Hi guys..Here is a quote from the last 8k, dtd 2/14/13
The bridge loan arrangement will be for a principal amount of $650,000 with interest at the rate of 15% per annum. The loan will mature on the earlier of; a minimum of $10,000,000 in debt or equity funding to be arranged by the Firm, or February 20, 2014. The lender(s) will receive an aggregate of 650,000 shares of common stock of the Company. In addition, the loan will be secured by 5,000,000 shares of common stock of the Company which will be held in escrow by an agent selected by the lender(s). The funding of the bridge loan is anticipated to occur on or before February 22, 2013.
Funding anticipated to occur.........
makings waiting a little easier
