Good luck. Just remember cheap is a relative metric. And it could be cheap for a long time before the financials start looking better. By that I mean becoming profitable. Also keep in mind the liability they incurred by acquiring the business in the first place.
NOTE 9 – NOTES PAYABLE – RELATED PARTIES
On February 28, 2023, the Company issued a note payable to an officer of the Company, also a principal in BCI for $2,000,000 as consideration for the acquisition of his shares in BCI. The note has a maturity date of February 28, 2027 and accrues interest payable at 8% per annum calculated on a monthly basis. For the three months ended March 31, 2025, the interest expense was $40,000 and at March 31, 2025, the total accrued interest was $333,333.
On February 28, 2023, the Company issued another note payable to an additional officer of the Company, the second principal in BCI for $2,000,000 as consideration for the acquisition of his shares in BCI. The note has a maturity date of February 28, 2027 accrues interest payable at 8% per annum calculated on a monthly basis. For the three months ended March 31, 2025, the interest expense was $40,000 and at March 31, 2025, the total accrued interest was $333,333.
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