Replies to post #104309 on Crednology Holding Corp (fka COHO)

[sam1933]

NO PENALTY, NO RS,...

NOTE G– RELATED PARTY TRANSACTIONS

Oriel Rechtman, the CEO of the Company, has loaned funds to the Company. These loans are as follows:

1/. $250,000 for the purchase of California Recycles, Inc. The amount outstanding as of December 31, 2018 is $101,169. Interest of prime plus 2% per annum will be charged annually. Minimum monthly payments of $8980.10 include interest.

2/. $50,000 to acquire the customers of Evolve, a company that was in the cloud computing business in June 2018. This loan is a short-term loan that will be repaid when the Company has the funds to do so. Interest of 5% per annum will be charged commencing on July 1, 2018. The balance due on this loan is $8,485 as of December 31, 2018.

3/. $30,000 to acquire a new truck for the business. This loan is another short-term loan that

will be repaid when the Company has the funds to do so. Interest of 5% per annum will be charged commencing on October 1, 2018. This loan has been fully repaid

4/. In September 2018 Oriel Rechtman loaned the Company $270,781. This amount was used to repay the outstanding SBA loan. This new loan will be repaid over a 48 month period including interest at 7.5% per annum. The monthly payments are $6,643.64 commencing on November 1, 2018. As of December 31, 2018 the amount outstanding is $254,281.



Subsequent Events

1/. The Company negotiated a new lease on its premises at 18351 Eddy Street, # B, Northridge, CA 91325 which commences on May 1, 2019. The new lease is for three years at a starting rent of $5,129 per month.

2/. In December, 2018, the Company filed paperwork with the State of Delaware to change the

Company’s name to CorpTech Holding, Inc. and to reverse the stock so that 10 shares of Common Stock would be reversed to one share of Common Stock. The Company is in the process of withdrawing its request to reverse split the stock. Paperwork to that effect will be filed in the State of Delaware and the request to FINRA will be withdrawn.

The Company is continuing with its application for approval of a Regulation A financing.


3/. In April 2019 the company contracted to purchase new computer equipment for its new cloud storage facility. This equipment will be purchased with cash of $10,000 and financing of $35,000 provided by Mr. Rechtman for a short term repayment. Final terms of this Note has not been finalized as of yet. This new equipment with up-to-date technology will allow improved service to its customers and will result in significant savings annually as the monthly cost of the new facility is less than the cost of its current facility in Los Angeles.