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Replies to post #237891 on 1812 Brewing Company Inc (KEGS)
RMS555
02/07/24 11:21 AM
#237892 RE: Huggy Bear #237891
Therefore, I have had subsequent discussions with each of the debt holders, and they have tentatively agreed to continue to waive any accruing interest as well as to abstain from any conversions until the market value of the Company exceeds $100 million. It should be noted that neither debt holder has converted into common stock in over ten years, nor have they indicated an immediate desire to do so regardless of price
Upon repayment of Tranche 1 in full to Trillium, the debt - having been reduced by $500,000 and with no further interest accrued during the entire period - will transfer back to the two original CD holders. The Company intends to further negotiate with these two CD holders at that time.