Excellent example - the company is supposed to have $20 million in revenue but oddly they needed to use toxic financing - real companies don't use toxic financing.
"On August 13, 2019, Ngen issued a convertible promissory note to More Capital, LLC, a Minnesota limited liability company, in the principal amount of $215,000. The note bears interest at 10% per three-month period with balance due and payable on August 15th, 2020.
On August 15, 2019 Ngen issued a convertible promissory note to Carebourn Capital, LP, a Delaware Limited Partnership (“Carebourn Capital”), in the principal amount of $215,000. The note bears interest at 10% per three-month period with balance due and payable on June 28, 2020.
On September 3, 2019, Ngen issued a convertible promissory note to Carebourn Capital in the principal amount of $69,875. The note bears interest at 10% per three-month period with balance due and payable on September 3rd, 2020."
Good ole toxic lender Chip Rice of Carebourn Capital.
Since DCGD doesn't have any assets or revenue - they will need to use toxic funding also.
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