I would imagine that it is an annual 10% compounded monthly but that they just did not use the word annual in the 10Q. When referring to interest rates, everyone just assumes annually as that is standard. Interest of 10% monthly would indeed by exorbitant and not likely. I'll ask Bruce and see what he says.
Just got an email back from Bruce. 10% is annual rate as I thought, not monthly.
What I asked: "About the Promissory note for up to $750,000 from MAAB. 10Q mentions that the 10% interest is compounded monthly. I am assuming that that is a 10% annual interest rate that is compounded monthly, not 10% per month. Wasn't clear to me from the 10Q."
News 
Market Data 
Discover 
