Replies to post #39835 on Greenshift Corporation (GERS)

[Scripo]

70K plus paying down debt! GERS

For those that didnt see the PR
NOTE 14

SUBSEQUENT EVENTS

Effective on April 25, 2014, the Company retired convertible debentures with an aggregate outstanding balance of $3,700,000, consisting of outstanding principal and interest of $3,609,206 and $90,794, respectively. The Company made a cash payment of $1,400,000 to retire the debentures.

The debt retirement is expected to reduce the Company’s annual interest charge by approximately $215,000 (6% interest per year on the $3,609,206 of principal being retired).