We incurred an increasing working capital deficit and accumulated deficit as of December 31, 2021 as we ramped up operations significantly in this period and incurred debt to assist in supporting our operations.
That sounds good to you????
And I wouldn’t exactly call Humbl Financial a success after they launched it. They had to pull off those Blocks ETX because of problems with the SEC.
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And cash - coming from his dad??
PROMISSORY NOTE Effective Date: February 22, 2022 U.S. $3,000,000.00 FOR VALUE RECEIVED, HUMBL, INC., a Delaware corporation (“Borrower”), promises to pay to SARTORII, LLC, a Delaware limited liability company, or its successors or assigns (“Lender”), $3,000,000.00 and any interest, fees, charges, and late fees accrued hereunder on the date that is thirty-six (36) months after the Purchase Price Date (the “Maturity Date”) in accordance with the terms set forth herein and to pay interest on the Outstanding Balance at the rate of four percent (4%) per annum simple interest from the Purchase Price Date until the same is paid in full. This Promissory Note (this “Note”) is issued and made effective as of February 22, 2022 (the “Effective Date”). This Note is issued pursuant to that certain Note Purchase Agreement dated February 22, 2022, as the same may be amended from time to time, by and between Borrower and Lender (the “Purchase Agreement”). Certain capitalized terms used herein are defined in Attachment 1 attached hereto and incorporated herein by this reference. …
IN WITNESS WHEREOF, Borrower has caused this Note to be duly executed as of the Effective Date. BORROWER: HUMBL, INC. ACKNOWLEDGED, ACCEPTED AND AGREED:
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