Replies to post #19770 on Grillit Inc (GRLT)

[ace65]

Very nice news!!!

[~ Blue ~]

Great News~Non dilutive funding, No R/S about 10 locations within 2-3 years

GRILLiT Inc. closes on $500,000 Funding Agreement


Financing Agreement Announcement | 06/08/2021
GRILLiT Inc. (the "Company") (OTC: GRLT) today announced that it has closed on a fixed rate $500,000 note with Mammoth Corporation.

The Company received the initial tranche of $50,000 on Thursday, June 3, 2021 and, upon consent of the lender, GRILLiT Inc. will be able to access additional funds on the same terms up to $500,000. This note is not convertible into common stock unless there is a default on the monthly installment payments. We also negotiated that with each tranche, the installment payments are deferred 90 days to allow for a buildout period of each future Pretzel Haus location. This note will be used to carry out our expansion strategy of The Pretzel Haus by funding the buildout to get us close to 10 locations in the greater Tampa market over the next 2-3 years.

Access to this funding is a significant step that will greatly strengthen our capacity to carry out the expansion of corporately owned locations. It also aligns with all the communications I have made that I do not have any plan to execute a reverse split and that I have no plans to authorize additional shares beyond what was authorized by previous management. GRILLiT Inc. was in a terrible position due to previous management who did not understand how a public company must be built on operations that are financially sound and not on the continuous authorization of shares to fund unprofitable operations. We developed a strategy to turn GRILLiT Inc. into a fun and exciting development stage restaurant business and are well on our way to implementing that strategy. At this time we are a very small company and some things will progress slowly, but we continue to work to find and attract additional partners who are willing to utilize fixed rate loans to further accelerate our expansion strategy. I believe that we now have the necessary funding in place to open 8-9 additional locations as we get closer and closer to the Grand Opening of our initial Pretzel Haus location in Palm Harbor FL at the end of July. Greg Mitchell



About GRILLiT Inc.

GRILLiT Inc. (GRLT) is the parent company of 4 complementary restaurant businesses. Our initial expansion, The Pretzel Haus, will offer a pretzel products through a chain of retail locations. The second business is called The Chicken Haus and is based on a restaurant called Hhnchen Ewald www.haehnchen-ewald.de. The menu had a brilliance by offering only fried chicken, bratwurst, fries, special sauces, and beer. The namesake, GRILLiT, will remain the primary brand as we maintain the original menu and modernize the original strategy from 2011. The fourth business is called Bessemer Brewery. This railroad themed beer pub inspiration comes from the Bessemer Railroad that ran from Conneaut Ohio to Pittsburgh and supplied ore to the steel mills for that powered the industrial revolution.

All these businesses are designed to complement each other as we look to revive the GRILLiT brand allowing us to increase shareholder value and grow the company.

https://www.otcmarkets.com/stock/GRLT/news/GRILLiT-Inc-closes-on-500000-Funding-Agreement?id=306307

[crazy horse 0]

Great will update I-Box later

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GRILLiT Inc. closes on $500,000 Funding AgreementFinancing Agreement Announcement | 06/08/2021

GRILLiT Inc. (the "Company") (OTC: GRLT) today announced that it has closed on a fixed rate $500,000 note with Mammoth Corporation.

The Company received the initial tranche of $50,000 on Thursday, June 3, 2021 and, upon consent of the lender, GRILLiT Inc. will be able to access additional funds on the same terms up to $500,000. This note is not convertible into common stock unless there is a default on the monthly installment payments. We also negotiated that with each tranche, the installment payments are deferred 90 days to allow for a buildout period of each future Pretzel Haus location. This note will be used to carry out our expansion strategy of The Pretzel Haus by funding the buildout to get us close to 10 locations in the greater Tampa market over the next 2-3 years.

Access to this funding is a significant step that will greatly strengthen our capacity to carry out the expansion of corporately owned locations. It also aligns with all the communications I have made that I do not have any plan to execute a reverse split and that I have no plans to authorize additional shares beyond what was authorized by previous management. GRILLiT Inc. was in a terrible position due to previous management who did not understand how a public company must be built on operations that are financially sound and not on the continuous authorization of shares to fund unprofitable operations. We developed a strategy to turn GRILLiT Inc. into a fun and exciting development stage restaurant business and are well on our way to implementing that strategy. At this time we are a very small company and some things will progress slowly, but we continue to work to find and attract additional partners who are willing to utilize fixed rate loans to further accelerate our expansion strategy. I believe that we now have the necessary funding in place to open 8-9 additional locations as we get closer and closer to the Grand Opening of our initial Pretzel Haus location in Palm Harbor FL at the end of July. Greg Mitchell


About GRILLiT Inc.

GRILLiT Inc. (GRLT) is the parent company of 4 complementary restaurant businesses. Our initial expansion, The Pretzel Haus, will offer a pretzel products through a chain of retail locations. The second business is called The Chicken Haus and is based on a restaurant called Hhnchen Ewald www.haehnchen-ewald.de. The menu had a brilliance by offering only fried chicken, bratwurst, fries, special sauces, and beer. The namesake, GRILLiT, will remain the primary brand as we maintain the original menu and modernize the original strategy from 2011. The fourth business is called Bessemer Brewery. This railroad themed beer pub inspiration comes from the Bessemer Railroad that ran from Conneaut Ohio to Pittsburgh and supplied ore to the steel mills for that powered the industrial revolution.

All these businesses are designed to complement each other as we look to revive the GRILLiT brand allowing us to increase shareholder value and grow the company.


Forward-Looking Statements

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently unreliable and actual results may differ materially. Examples of forward-looking statements in this news release include statements regarding the potential growth and advantages related to market trends and consumer preferences. Factors could cause actual results to differ materially from these forward-looking statements. These risk and uncertainties are detailed from information that may be detailed from time to time filings.

https://www.otcmarkets.com/stock/GRLT/news/GRILLiT-Inc-closes-on-500000-Funding-Agreement?id=306307


Grand Opening Announcement - The Pretzel HausPress Release | 06/02/2021

BOSTON, MA / ACCESSWIRE / June 2, 2021 / Nick Agostino, president of The Pretzel Haus, is pleased to announce the build out is well underway for the flagship location of "The Pretzel Haus." We are very excited to bring our unique stuffed pretzel sandwiches, jumbo pretzels, pretzel desserts, fresh made dip sauces, and much more to the Palm Harbor, Florida area. The Pretzel Haus is expected to open this summer on or about July 30, 2021.

We are looking forward to every customer's reaction when they walk in and smell the fresh baked from scratch Pretzel creations! The quaint, cozy, rustic industrial decor will be coupled with friendly faces looking forward to greeting each and every person. We will also offer outdoor seating! The Pretzel Haus will no doubt be one of Tampa Bay‘s new favorite places!

CONTACT:

Nick Agostino - President
The Pretzel Haus
2655 East Lake Rd.
Palm Harbor, FL 34685
WWW.GRILLITBRANDS.com
E-mail: [e-mail]

About GRILLiT Inc.

GRILLiT Inc. (GRLT) is the parent company of 4 complementary restaurant businesses. Our initial expansion, The Pretzel Haus, will offer a pretzel products through a chain of retail locations. The second business is called The Chicken Haus and is based on a restaurant called Hähnchen Ewald www.haehnchen-ewald.de. The menu had a brilliance by offering only fried chicken, bratwurst, fries, special sauces, and beer. The namesake, GRILLiT, will remain the primary brand as we maintain the original menu and modernize the original strategy from 2011. The fourth business is called Bessemer Brewery. This railroad themed beer pub inspiration comes from the Bessemer Railroad that ran from Conneaut Ohio to Pittsburgh and supplied ore to the steel mills for that powered the industrial revolution.

All these businesses are designed to complement each other as we look to revive the GRILLiT brand allowing us to increase shareholder value and grow the company.

Forward-Looking Statements

Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently unreliable and actual results may differ materially. Examples of forward-looking statements in this news release include statements regarding the potential growth and advantages related to market trends and consumer preferences. Factors could cause actual results to differ materially from these forward-looking statements. These risk and uncertainties are detailed from information that may be detailed from time to time filings.

SOURCE: Grillit, Inc.


View source version on accesswire.com:
https://www.accesswire.com/650033/Grand-Opening-Announcement--The-Pretzel-Haus


https://www.otcmarkets.com/stock/GRLT/news/Grand-Opening-Announcement---The-Pretzel-Haus?id=305605

[Carjockey2]

Very niceeee news..why are we still at .002???

:-)

[tdbowieknife]

More news... Mammoth Corporation is a toxic lender.

Toxic Funders are a common manipulative force in penny stocks trading. Hundreds of penny stocks are currently using toxic financing to fund operations and pay for insider expenses. These toxic instruments lead to massive amounts of dilution which is often accompanied by paid promotions (some with disclosed compensation and some without), social media pumps, and misleading/exaggerated/fraudulent press releases and public disclosures by the public Issuers.

The financiers target public Issuers that are rarely able to afford the funding and charge extremely high interest rates, processing fees, and penalties, but that’s the least of their clients’ problems. Upon conversion, the lenders enjoy a discount to market price that may be as high as 60 percent, and much higher in the event of default by the issuer. As the funder converts portions of the note and sells the resulting stock into the market in a series of tranches, the stock’s price plummets. That is why these kinds of instruments are called “death spiral convertibles.” Eventually, the dilution caused by the conversions may force the issuer to reverse split the company’s stock or even drive the company into bankruptcy.

Toxic funders have wreaked havoc with OTC companies for decades, but they’ve proved difficult for the SEC to rein in. In the past three years or so, however, the SEC has begun to pursue a new theory of these kinds of cases, invoking the funders’ failure to register as dealers. The SEC defines a dealer as “any person engaged in the business of buying and selling securities for his own account, through a broker or otherwise.” Individuals who buy and sell securities for themselves are usually considered to be “traders,” and are excepted from the dealer definition. What distinguishes a dealer from a trader is that the dealer “buys and sells as part of a regular business,” while a trader does not.

The bottom line is that toxic funders (i) don’t register as dealers, (ii) commit fraud by not making disclosures that they are not registered, (iii) wreak great harm on investors - (After all who buys the shares the funders dump?) and (iv) put thousands of businesses (including legitimate ones) out of business and/or force them into bankruptcy.

A handful of penny stock law firms have been involved in facilitating the sale of billions of shares of stock by the unregistered dealers, participating in both the preparation of the convertible notes and related agreements and arranging for other lawyers to provide legal opinions to facilitate the public sale of the shares.

This forum will be used to keep a list of some of the most active toxic funders, the attorneys they use (when the information is available), and any SEC action taken against the toxic funders. Unfortunately, because many of the most common toxic funders purchase Notes from over 100 Issuers and not all Issuers disclose the names of the lenders they use, it would be an impossible task to track all the Issuers involved.

https://investorshub.advfn.com/Toxic-Funders-38356/

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Buyer Beware






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[JohnnyRothrock]

…interesting, they got financing in June for Pretzel Haus…to biuld first of 10 coming…now we actually see a nice pic of a ‘Coming Soon’ storefront …it actually exists, lol

So…isnt this when to buy a .002 area penny stock? Couple weeks before grand opening….and great timing for restaurants as Covid winds down and things open back up?

GRLT is a serious radar.