Replies to post #44932 on EcoloCap Solutions Inc. (fka ECOS)

[tw2319]

Yep...

Attention to detail...

T.

[kennypooh]

Seems to me that ECOS (the public corporation) is just a bit player in this entire production?

From the 2016 10-K filed in August:

NOTE 12 – SUBSEQUENT EVENTS

In February 2017, the Company and Hanscom K Inc. jointly and severally entered into a loan agreement for an amount of $485,000 which is subject to annual interest of 16% and matures on November 1, 2017.

That $485,000 note to Hanscom K, (plus over $50,000 in accrued interest @ 16%), was due Nov. 1.

ECOS had not announced any sales revenue for 2017, outside the pilot machine sold to LRS (via ECOS/BIOart LLC) in Dec 2016? My guess is the $485,000 was the net cost from the Korean company that made the machine that LRS is paying $650,000 for? LRS and ECOS split the mark-up 50/50, so after installation expenses, ECOS may net around $50,000 from that first sale? That won't even cover the interest owed to Hanscom K? Hanscom K should get their note repaid if LRS pays for the machine this month. ECOS gets nothing?