TCA global a toxic financier/lender for penny stock's.. There latest 8k states there owe over 1.6 mill in loan debts to tca global, how are they gonna pay 1.6 Mill with 0$ cash on hand from there latest 10q filed in 2015?
On October 25, 2016 with an effective date of October 21, 2016, the Company and its subsidiaries as guarantors (collectively, the “Credit Parties”) entered into a Second Amendment to the Senior Secured Revolving Credit Facility Agreement by and between TCA Global Credit Master Fund, LP, a Cayman Islands limited partnership (the “Credit Agreement” and “TCA,” respectively and effective December 18, 2015) as amended by a First Amendment to the Credit Agreement on April 18, 2016, whereby the Company was approved for an additional $400,000 loan under the Credit Agreement (the “Additional Advance”). The Second Replacement Revolving Note, in the principal amount of $1,674,484 which aggregates all obligations due and owing to the Lender by the Credit Parties, including the Additional Advance as of October 21, 2016, has substantially the same terms as the initial $750,000 and $250,000 loans. On October 25, 2016, the Company received $267,799 after (i) the escrowing of $67,801 for payments to professionals and others in connection with bringing the Company’s audited and unaudited financial statements current; (ii) payment of $42,500 to accounting professionals; (iii) payment of $20,500 in fees due TCA and its professionals; (iv) miscellaneous payments of $1,400.
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