OUCH!!! And this is money coming from a principal....
Hmm..
Wonder where they're making money?
Might it be from totally milking the company?
Sure doesn't display confidence in EGT.
The principal amount of the Bridge Financing, together with interest accrued thereon, will become due and payable on May 29, 2020 (the "Maturity Date").
Interest shall accrue on the principal amount at a rate of 1% per month.
In the event the principal amount and interest accrued thereon is not repaid on or before the Maturity Date, the applicable interest rate would increase to 2% per month.
(OUCH!!!)
The lenders will receive an administrative fee, paid in cash, equal to 10% of the initial principal amount of the loan. (Double
(OUCH!!!)