25%I see a loan to Sunniva of 1,700,000 US dollars was extended from June 11 to July 11, 2019, and the interest rate increased from 10 percent to 25 percent. Thats not a typo-its 25%.
Michael Barker , a director of Sunniva , has a material interest in the company that made this loan.
They made another loan to Sunniva of 895,000 dollars to fund a change order to build the California glass house. By the way why is Sunniva paying for change orders?????
Barker sits on the Board of Sunniva. I would have loved to be at the Board meeting when the other Directors found out Sunniva was going to be charged 25% interest by the Barker group.
What could this mean going forward??
The relationship between Sunniva and the Barker group, who are building the Glass Palace, must be getting a little tense. The amount of the loan is not large, but its more the idea that you sit on the Board and then have the guts to charge Sunniva a 25% interest rate.
There could be plan by the Barker Group to call the loans. ,and appoint a Receiver if they are not paid.
The win for the Barker group . Is that they get rid of Sunniva, the public company whose shares fall to zero over night, - and Barker carries on growing weed in their own new building and selling it for proceeds that all go to themselves and not Sunniva. in 2020.
It really bugs me that Sunniva has not done a press release on the status of the land sale, ,which was to close 10 days ago. It's not fair to shareholders to be kept in the dark like this, especially when you have no cash. My personal opinion is the chances of Sunniva getting 20 million cash are between zero and zero. But shareholders have a right to know the status of this deal.
Also, I am amazed at the number of people that are averaging down, buying more stock on the basis of pictures or drone shots of a building you do not own. The x president is selling his stock at these prices, but somehow people think they know more than him, and buy while he sells. If the Barker group calls the loans its over!!! DONE - no more pics of the building by the Discord group . And no more quoted stock price other than zero.
next two weeks will be very interesting