RE:Another Questionable Press Release??? EKG BoD Questionable
Medtechvestr789 wrote: EKG puts out another very questionable Press Release with highly sketchy statements: "The terms of the original $1M line or credit loan agreement which was announced January 18, 2013, will remain unchanged during the extension period except that the amount of the LOC available to CardioComm shall be $900,000. Under the original agreement the line of credit would have been payable on or before December 31, 2015." According to posted financials: MD Primer Inc., a related party that is controlled by the Companys Chairman, Dr. Anatoly Langer, has provided a $1,000,000 line of credit to the Company, with interest charged at commercial rates. The amount payable to MD Primer as at September 30, 2015 is $962,763 drawn from the line of credit. The Company is required to repay any line of credit outstanding by December 31, 2015. The line of credit is secured by equipment, inventory, accounts receivable and intangible assets with an aggregate net book value of $863,651. EKG,.....which is it?????? According to financials, $900K IS NOT AVAILABLE TO THE COMPANY. IT'S BEEN SPENT. ASSETS DON'T COVER THE LOC. New LOC Agreement to REPAY LOC by end of Q1, 2016?????? HOW?? More incentive stock options granted to this Management Team and BoD????? Why????? WOW......need some DUE DILLIGENCE. VERY DUE.
Are you guys still going on about EKG??? Its all about PKK now boys.
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