1. How much does the company still owe on those loans? 2. what is the current O/S? 3. Where is the company located? IN WHAT STATE?
Do you understand the significance of question #3? We don't even know what STATE this company is located in now.
The Royalty Payments are $100,000 per year for five years, no more, no less. The CEO's salary, when they had money, was over $300,000 per year. Do the math.