NOTE 8 - RESTATEMENT - LONG TERM DEBT
'The Company has taken loan from Emry Capital before 2008. The North Carolina Company ignored the inclusion of debt of $500,000 which has now been restated in 2016 by increasing accumulated deficits and long term loans. This loan includes two notes amounting to $500,000 and one for $94,000. Together with interest it now amounts to $1,000,000 being interest rate of 12% per annum.
This is the first time that I have seen this reported for new entity.
Anyone know if it is still valid and what the conversion rate would be if they cannot or choose to not pay the 12% interest payments? Thank you Stockvaper
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