RE:Entry into a Material Definitive AgreementThose are some pretty big numbers to take responsibility for so there must be confidence on both sides that PNTV can meet the obligations through some increasing activity and plan. 4.3 Million of financing in a year with a 5% interest rate has them on the hook for about 210k in interest alone.
I would hope the plans are to be laid out soon
NewDenverKnows wrote: On November 21, 2016, Players Network (the “Company”) entered into a letter agreement (the “Financing Agreement”) with SK L-43, LLC (the “Investor”) providing for the making of loans by the Investor to the Company, at the Investor’s option (i) in the aggregate principal amount of $925,000 by December 15, 2016 (the “Initial Advances”), and (ii) in the amounts of $1,500,000 each on or before each of April 1, 2017 and May 1, 2017 (the “Additional Advances” and, together with the Initial Advances, the “Advances”). To date, the Investor has advanced to the Company $392,000 of the Initial Advances. Advances under the Financing Agreement are unsecured; bear interest at a rate of 5% per annum