Yeah, I thought the same thing about 9 months ago. I thought they would use Mobeego sales/revenues to fund the remaining operation but it appears they were slow on the uptake and there were very little Mobeego sales. Now it looks like LCLP has to come up with another $250,000 payment by next Monday. LCLP is a ghost ship, it is sailing the uncharted waters without a captain. Nothing good happening here. Not only is another Mobeego payment due next week but exploding interest on top of that. Is Goober in prison?
Pursuant to the Stock Purchase Agreement by and among Batterfly Energy, LTD and the Company, on July 11, 2016 the Company issued a $500,000 Promissory Note and Stock Pledge Agreement to the former shareholders of Batterfly Energy, LTD. The promissory note is a standard, non-convertible note. The effective interest rate is 1.00% with a default interest rate of 10.00%. The note is to be repaid in two (2) payments, $250,000 on October 11, 2016 and the balance due on February 13, 2017.
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