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DoughDiligence

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DoughDiligence

Re: zerotothemoon post# 559

Tuesday, 06/25/2013 4:27:38 PM

Tuesday, June 25, 2013 4:27:38 PM

Post# of 3547
I think Visualant owned Mr. Gringo 1+ Million - not 500,000.

I do not know the sale price of Visualant since it was a few years ago. The 5 million financing will be used to pay back the 1.6 million of debt that was due last year.


I found this statement in the financing SEC documents:

'James M. Gingo, director, received $1,030,000 for payment of loan & interest & company paid liabilities of $128,000. In addition, Ronald P. Erickson, President & CEO, received $460,000 for repayment of loans & $65,000 for repayment of accrued liabilities.'
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