I also noticed those were horrible terms for the company!
All this time i thought they got their filings in order so that a reputable lender that was waiting in the wings, not the local loan shark Guido standing on the corner, would give them a loan with decent terms for the company!
This sounds like another Asher loan or even worse!
I thought these guys were getting financing guidance from a good source, guess i was wrong!
it's obvious that their strength is in signing up endorsers, not in finance!
Unfortunately, success in the corporate world does not revolve around the endorsers!
BTY, I wonder what happened to the shares given to Aden Smith?
Were they taken back when the agreement was cancelled as a result of unprofessional conduct?