Dodgy sounding filing below. Sounds like you are borrowing money off yourself and then you put yourself in default if you don't pay yourself back on demand. I could come up with an arrangement like that between my right and left pockets ! LMFAO !. This appears to have been a mistake to buy this on the bounce and now I'm holding the bag. LOL - glad the winners make up for these dogs once in a while.
"On April 20, 2009, we entered into a Loan Facility Agreement between 7105754 Canada Inc., as borrower; 7129211 Canada Inc., as lender; Sports Supplement Group, Inc., as first guarantor; and, Sports Supplement Acquisition Group, Inc., as second guarantor under which we unconditionally guaranteed the payment of US$150,000.00 loaned to 7105754 Canada Inc. by 7129211 Canada Inc. The loan was made on April 20, 2009 and accrues interest at an adjustable prime rate. In the event of default, the interest rate increases to 18% per annum. 7105754 Canada Inc. granted 7129211 Canada Inc. a security interest in all of its property up US$1,000,000.00. The guarantors granted a similar security interest in their property, as well, up to US$1,000.000.00 each. 7105754 Canada Inc. is our subsidiary corporation. No due date is listed, accordingly, the notes are deemed demand notes and could be called at any time. In the event the loan is not repaid on demand, a default occurs. "
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