Replies to post #31667 on Intelligent Highway Solutions, Inc. (fka IHSI)

[john12341]

see tca did not follow though on all the agreement they signed. that is what the law suit is over

[Burn Notice88]

Again, working off inaccurate assumptions is not how I trade. The latest 10Q again clearly states who got paid, how much and who had yet to be paid.

Here is what factually transpired. ;-)

"The seller of Cresent Construction was paid in cash."

Both seller and financer $131,855 "was drawn" to be paid..."

NOTE 15 – LINE OF CREDIT

On March 9, 2017, the Company entered into a revolving line of credit to borrow up to $5,000,000 dollars of which $631,855 was drawn immediately. Of the amount drawn on March 9, 2017, $500,000 was paid to the seller of Cresent Construction Company as the cash component of the acquisition and $131,855 was drawn to pay seller and financer acquisition related costs. The credit line carries interest at 12% per annum and matures on September 9, 2017 with all outstanding principal being due at maturity. Under the terms of the credit facility, the parties shall not incur or have outstanding funded indebtedness outside of those allowed under the terms of the agreement, enter into or permit and liens, enter into new investments in additional businesses outside of those permitted within the agreement, enter into a transfer of shares or merger, make capital expenditures or issue additional shares of stock without the consent of the credit line maker.
https://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=12246063

Btw, I'm fully aware of the difference between TCA Cresent (financier) vs. Cresent Construction Company (seller). ;-) ;-)