Replies to post #199116 on 1812 Brewing Company Inc (KEGS)

[underdog150]

Good bradakus, now you know why the covenants
were not met, and SWVC needs an extra $866 grand
in capital before 10/31/2008. More debt a coming
besides all the debt that is already due, pending
the 7.5 billion OS share increase.

[rpt]

Section 6.9 Key Person Life Insurance. The Borrower shall maintain
insurance upon the life of Thomas Scozzafava, with the death benefit thereunder
in an amount not less than $1,300,000 (the "Life Insurance Policy"). The right
to receive the proceeds of the Life Insurance Policy shall be assigned to the
Lender by the Life Insurance Assignment.


Sounds like WF is covering all bases..Just in case.