Pokerpro - GEQU is so under the radar since they didn't issue a PR yet. That will change next week almost no one is even mentioning the 8K that got released. Hopefully we will get a hint next week of the funds GEQU is planning on acquiring.
GLOBAL EQUITY INTERNATIONAL INC : Entry into a Material Definitive Agreement (form 8-K)
01/12/2018 | 09:23am EST Item 1.01 Entry into Material Definitive Agreements.
On January 11, 2018, Global Equity International, Inc. ("Company") entered into a Funding Agreement with Xantis S.A. a company incorporated under the laws of Luxembourg that is the legally appointed fund management company of Xantis Private Equity ("Lender"), a sub-fund of Xantis Investments Securitisation Fund ("Lender"), pursuant to which the Lender, through its management company, agreed to loan the Company a minimum of £2,000,000 (approximately US$2.7 million). The loan will be funded in one or more tranches commencing within the month of January 2018. The proceeds of each tranche of funding shall be utilized for reduction of indebtedness, inorganic growth via acquisitions of various advisory firms with funds under management and general working capital purposes.
Each tranche of the loan will be evidenced by a Convertible Note, bearing interest at 6% per annum. Interest on the Convertible Notes is payable semi-annually. The first semi-annual interest payment shall be made in cash or, at the option of the Lender, in shares of our Common Stock at the conversion price indicated in the Convertible Notes. The Convertible Notes will mature on the 366th day following issuance ("Maturity Date"). The principal and any accrued, but unpaid, interest outstanding on the Maturity Date shall be mandatorily converted into shares of our Common Stock.
The conversion price under the Convertible Notes shall be equal to the greater of US$0.02 or the average closing price of Borrower's Common Stock on the Over-the-Counter Bulletin Board for the prior 60 trading days (subject to equitable adjustments for stock splits and similar events). A "trading day" shall mean any day on which the Common Stock is tradable for any period on the stock exchange on which the Borrower's Common Stock is traded or quoted.
Subsequently, on January 12, 2018, Xantis Private Equity, through its appointed Trustees, confirmed that, today, they will initiate a £300,000 (approximately US$400,000) wire transfer to the Company.
On January 11, 2018, Global Equity International, Inc. ("Company") agreed to revise the funding agreement signed on November 20, 2017 with William Marshal Plc. The terms of the new revised agreement, that supersedes the old agreement, are as follows:
The Lender, William Marshal Plc. agreed to loan the Company up to £2,000,000 (approximately US$2.7 million). The previous, November 20, 2017, agreement stated a minimum of £2,000,000.
The loan will be funded in one or more tranches at the lenders discretion. The proceeds of each tranche of funding shall be utilized for reduction of indebtedness, inorganic growth via acquisitions of various advisory firms with funds under management and general working capital purposes.
Each tranche of the loan will be evidenced by a Convertible Note, bearing interest at 6% per annum. Interest on the Convertible Notes is payable semi-annually. The first semi-annual interest payment shall be made in cash or, at the option of the Lender, in shares of our Common Stock at the conversion price indicated in the Convertible Notes. The Convertible Notes will mature on the 366th day following issuance ("Maturity Date"). The principal and any accrued, but unpaid, interest outstanding on the Maturity Date shall be mandatorily converted into shares of our Common Stock.
The conversion price under the Convertible Notes shall be equal to the greater of US$0.02 or the average closing price of Borrower's Common Stock on the Over-the-Counter Bulletin Board for the prior 60 trading days (subject to equitable adjustments for stock splits and similar events). A "trading day" shall mean any day on which the Common Stock is tradable for any period on the stock exchange on which the Borrower's Common Stock is traded or quoted.
LOL umm yea they were doing so well they actually changed business models to this new one now and the stock price has fallen %80 last several years. I guess the financials speak for themselves not the glitsy PRs.
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