Post by
Lingcod on Jul 08, 2023 6:11pm
Why is taat issuing loans, and to whom ?
Seems odd to me that taat, having lost 3.2 million this last quarter, is issuing loans at 1% and some with
no interest. Bank rate is over 5%. Are they a bank now ? Whom is this 3rd party ? A subsiduary ? Taat wont mention that.
During the year ended October 31, 2022, the Company lent $42,972 (US$31,484) to a third party with weekly payments beginning on October 20, 2022 of US$750 per week. The loans receivable accrues interest at 1% per annum and the remaining balance of the loan is due on June 1, 2023. During the year ended October 31, 2022, the Company accrued interest of $33 (US$24) for the loans receivable. During the period ended April 30, 2023, the Company accrued interest of $156 (US$115) and received principal payments of $29,270 (US$21,604) for the loans receivable. During the period ended April 30, 2023, the Company lent $101,618 (US$75,000) to a third party with weekly payments of US$2,000 per week. The loans receivable accrues no interest and is due on demand. During the period ended April 30, 2023, the Company received principal payments of $39,409 (US$29,088) for the loans receivable.
Comment by
Lingcod on Jul 08, 2023 8:42pm
Any thoughts why taat loaning money when they lost 3.2 million last quarter ?