HIGHEST Priority Is REPAYMENT Of SECURED NOTE
As of June 30, 2023, $726,574 of principal and accrued interest remains outstanding and the counterparty has agreed to amended terms. Repayment is expected on or about November 30, 2023 and the interest rate has increased to 11.85% per annum.
***
- it has ALREADY BEEN EXTENDED ONCE
- hopefully, the FIRST CLAIM out of the $ 3 MILLION non-profit GRANT FUNDING would have been RECEIVED BEFORE the NOVEMBER 30, 2023 SECURED NOTE DUE DATE
- it is IMPORTANT to STATE that this NOTE is SECURED against ALL the ASSETS of the company including the VERY VALUABLE PATENTS and CTI patent pending
- they MUST REPAY and CANCEL the NOTE {to PROTECT SHAREHOLDERS} EVEN IF they have TO PAUSE the Marwayne RF XL project (hopefully, they have ENOUGH MONEY to CONTINUE ?)
- of course, should they be SHORT OF MONEY; it is PREFERABLE IF they are ABLE to EXTEND the NOTE for an EXTRA YEAR (?)
* THROW IN some WARRANTS as an INDUCEMENT
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