Today's Amazing discovery.The 10q says they used the money from the Power up factoring agreement to buy back toxic notes. OMG they didnt do the factoring deal because they are broke.....they did it to stop the dilution. This is a great deal....they sold off some accounts receivable to keep 100 million shares from being issued. Guarding the Castle until the Rontan Reinforcements arrive.
The Company used the purchase price proceeds to satisfy in full the obligations under the notes payable to KBM and Vis Vires, which are more fully described in Note 6 – Notes Payable.
Under the terms of the Factoring Agreement, NACSV, as Merchant, agreed to transfer to Power Up in consideration of the purchase price of $59,000, all of the Merchant’s future receipts, accounts, contract rights and other obligations arising from or relating to the payment of monies from Merchant’s customers and/or other third party payors (collectively the receipts) at the specified percentage of 24% until such time as a total of $76,700 is repaid. A specified daily repayment amount of $457 is required to be made to Power Up as a base payment to be credited against the specified percentage due. The Factoring Agreement shall have an indefinite term that shall last until all of the Merchant’s obligations to Power Up are fully satisfied. The Company used the purchase price proceeds to satisfy in full the obligations under the notes payable to KBM and Vis Vires, which are more fully described in Note 6 – Notes Payable.
News 
Market Data 
Discover 
AI
