Eve & Co Inc V.EVE.H

Natural Medco [not EVE] gets $1,000,000 loan in 2 tranches.

[reallyBobbyZ]

The first $500,000 has already been received. Another $500,000 available with 5 days notice. 15% interest in year one, 11% in year 2. Two year deal.

From a "Private Consortium" to Natural Medco...not EVE.

I would love to see the actual "deal"...what security was put up by Natural Medco.

CURIOUS....3 weeks ago Mel R loaned $$$ to EVE. Now this LOAN is to Natural Medco....owner & operator of the greenhouse....again, what security put up? Who will end up with Natural Medco if/when this thing bites the dust.

[Jarred]

What's interesting is that monthly repayments of princial and interest can only be made during the second year of the term. The lenders must have some hope that EVE will turn it around in 2021 as they will be collecting nothing during the year.  it looks like EVE got a lifeline but not a cheap one. Obviously 2021 will be a make it or break it year for EVE. 

[BobbIeheadbob]

The loan is secured by the lenders.  They'll be secured with RBC now.  I wonder if that's even legal since RBC is a secured creditor and since they are that doesn't allow other creditors to be secured on the assets since it's all RBCs and they won't even receive all their money if EVE filed bankruptcy ......

[reallyBobbyZ]

Hey Bobble, RBC is in first place...any other loans in second place are at greater risk. RBC is ok with that....cuz RBC feeds first.

[BobbIeheadbob]

That's true with the shareholders which is why the shareholders would never get amythung in a bankruptcy.  This current 1 million financing is also secured.  Secured is secured against the property. There is no this person gets paid first when both parties are secured.  Since RBC is owed 18 million then these new creditors with their 1 million loan would receive 1/18 if EVE

[LionWhisperer]

This post has been removed in accordance with Community Policy

[BobbIeheadbob]

You can't be a secured creditor by assets that are already secured by an existing company ( RBC). This makes no sense ..    

[LionWhisperer]

This post has been removed in accordance with Community Policy

[stwatcher]

You are right but as a second in line you can pay off the first and assume the property . This was a very expensive financing !