Replies to post #24436 on Renuen Corp. (RENU)

[MonsterArmy]

I had read the latest 2013 Q2 Report and understand that the note of $450K was executed On December 31, 2011 was negotiated by the new management of the Company to settle and reduce the debt on On October 18, 2012 by issuing ten million six hundred thousand (10,600,000) shares of common stock of RENU (“SHARES”) bringing TOTAL shares to twenty-six million (26,000,000); and, issuing twenty million four hundred (20,400,000) stock options in RENU to the parties (the “Options”) at a strike price of .01 valid for four years. I don't know how much RenuEN still owes Total Exteriors Corp. but for sure it's much less than $450K. It may be a part (or a whole amount) of Investor Loans Payable $174,985 or a Shareholder Loans $115,401. It is what I can figure out right now. To have an exact number, we can question the CEO on the next conference.

On December 31, 2011, former CEO James Scott executed a note in the amount of $450,000.00 between the Company and Total Exteriors Corp. (“TOTAL”) for the purchase and buyback of debt accrued by TOTAL in developing the RenuEn and RenuEn Experts brand. The note was
payable in full no later than October 8, 2012. The relationships and business opportunities with the individuals and companies were not honored resulting in losses by the parties involved.

The new management of the Company decided to negotiate a settlement and reduce the debt owed by RenuEn to these individuals and companies. On October 18, 2012 the Company settled the note debt with TOTAL and all other claims by issuing ten million six hundred thousand (10,600,000) shares of common stock of RENU (“SHARES”) bringing TOTAL shares to twenty-six million (26,000,000); and, issuing twenty million four hundred (20,400,000) stock options in RENU to the parties (the “Options”) at a strike price of .01 valid for four years. As part of the settlement agreement with TOTAL and ISD, James Scott had to return 301,856,000 shares of common stock and not be a part of the management or board of the Company now or at any time in the future.