OTCQX:FRNKF - Post by User
Comment by
lscfaon Aug 07, 2016 12:02pm
104 Views
Post# 25117671
RE:RE:RE:RE:lockup ending
RE:RE:RE:RE:lockup endingJoe454 wrote:
How do you know they own the 15m notes?
... it is obvious from the NR and.....
14. (iii) In connection with the acquisition of Worldnow (Note 7), the Company executed promissory notes, bearing simple interest at a rate of 5 percent per year, to pay an additional $15 million in cash on August 31, 2016. The holders of the promissory notes also hold equity in the Company. Interest expense on the promissory notes amounted to $250,000 for the year ended December 31, 2015 and is presented within interest expense, net on the consolidated statement of loss and comprehensive loss.