Explaining the deal with Payless would be a start.
Since its formation during 2018, an operating principal of the Company’s wholly-owned subsidiary Payless Truckers, Inc. has loaned $70,000 to fund the subsidiary’s operations. The loan currently bears no interest and is payable on demand. The Company has imputed interest on this obligation at a rate of 10% per annum, which the Company believes is appropriate and represents a market lending rate based upon other debt financings. As of August 31, 2018, imputed interest of $2,333 has been recorded in the Company’s financial statements.
We entered into an operating agreement with a senior management team in an effort to drive the business and better realize its earnings and growth potential. Payless is responsible for a substantial amount of our financial results, which was an intentional management objective.
This doesn't sound like a straight forwards acquisition to me. Nor does it sound like something Viola created in April.
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