Dude this is so insider info trading. That is if it's even true. Highly illegal and you are throwing Tecco under the bus big time. I was once a believer of ELTZ until the dark side was shown to me. Stay away.
He will need almost a $2,000,000 loan. $850,000 for the debt on the new acquisition. Under the terms of the agreement Elite will assume a bank note of $850,000 and other specifically identified expenses.
And $804,410 for the NET Convertible promissory notes that the company has outstanding now as per the latest 10Q. Convertible promissory note payable netas of June,30,2017 $804,110
Lockup agreement makes sense, and I assume it was completed before end of day Friday. Otherwise we would have seen continued selling through the latter part of the day. This is great news. Great work finding this out.