8K out... they just got a 1% loan ... huge ... also mentions we might get financials soon... June 30th...
On May 14, 2020, MusclePharm Corporation (the “Company”) received an aggregate principal amount of $964,910 pursuant to the borrowing arrangement (“Note”) with Harvest Small Business Finance, LLC (“HSBF”) and agreed to pay the principal amount plus interest at a 1% fixed interest rate per year, on the unpaid principal balance. No payments are due on the Note until November 16, 2020 (the “Deferment Period”). However, interest will continue to accrue during the Deferment Period. The Note will mature on May 16, 2022. The Note includes forgiveness provisions in accordance with the requirements of the Paycheck Protection Program, Section 1106 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
The Company will file a copy of the Note as an exhibit to its Quarterly Report on Form 10-Q for the quarter ended June 30, 2020.
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