Post by
guyf1963 on Mar 29, 2022 7:39am
$1.25M USD lent to shaun dale not troy/aman
During the year ended June 30, 2021, the Company’s subsidiary GSRX advanced US$1,250,000 to an entity controlled by Shaun Dale, a director of GSRX. The note receivable bears interest at 12% and is due on demand commencing on December 31, 2021. The Company has discounted the expected cash flows to be received by GSRX assuming even repayments over a period of 10 years commencing on March 31, 2023 using a rate of 20%. On February 17, 2021, the note was amended to be secured against all the assets of the entity.