EWSI gets $2MM in Funding.
Read the 8K:
Also simultaneous to the signing of the closing documents with CPU, the Company entered into a Debt Purchase and Investment Agreement (“DPI Agreement”) with Profit Seeker Private Equity, Ltd. (“PSPE”) whereby PSPE commits to purchase not less than $2,000,000 of qualified debt and other liabilities of EWSI (collectively the ‘Debt’) during the twelve-month period following the date of this agreement. The Debt shall consist of any obligations of EWSI, of which no more than 10% may be to non-management affiliates (as defined under SEC regulations) so long as the Debt has been properly documented and recorded on EWSI’s books and are warranted by EWSI as being aged or obliged for a period of not less than six months, and further agrees to invest not less than 25% of the value of the liabilities purchased, on the principal terms set forth in the DPI Agreement.
