Who wants a $3mil revenue company losing money hand over fist? That pays 33% interest? Answer: Guess thats why it is only valued at $500k. CEO id dumber than a boxof rocks as he has no financial acumen period. Nuff said. They just raised the A/S because without doing that this company is going under but then who knows that could be Cashman's plan all along for his other company to buy pennies on the dollar.
This here says it all.
On August 23, 2016, the Company issued a promissory note to On Deck Capital for $243,750 of cash consideration. The note bears interest at 33%, matures on May 20, 2017
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