Statement on company website today. Retired $140,000 loan, paid in full before shares would be vested. Another great sign for the company moving forward to purchase plant.
I think that he $672K that was raised this year doesn't have to do with the 506(c) offering to raise money for the plant. They've raised money over the years by selling stock to mom & pops at a discount to the market price and through toxic financing. The money to build the plant is supposed to be raided in the form of convertible preferred stock (not death spiral / toxic convertibles) - check here:
<<WEST PALM BEACH, Fla., March 23, 2017
WEST PALM BEACH, Fla., March 23, 2017 /PRNewswire/ -- Alliance Bio-Products, Inc. (Bio-Products), a subsidiary of Alliance BioEnergy Plus, Inc. (OTCQB:ALLM), today announced its filing of a Regulation D (506(c)) offering with the U.S. Securities and Exchange Commission (SEC). The purpose of the filing is to secure funds through accredited investors for the purchase of a bioethanol plant in Southeast Florida that would enable the Company to increase production capacity and profitability of its sustainable, environmentally friendly alternative to petroleum-based fuels and other products through its patented Cellulose to Sugar (CTS) conversion process.>>