International Zeolite Corp V.IZ

Will This Turn Into A Demand Loan On Nov.21

[phantom666]

And CoTec come collecting?

On November 22, 2022, the Company and CoTec Holdings Corp signed a financing agreement to make an investment in the Company to support its go-to-market activities in the agricultural and green tech segments, which resulted in a $300,000 bridge loan funding to the Company.

The Bridge Loan bears interest at 7% per annum and is repayable on the earlier of November 21, 2024, closing of a Private Placement with CoTec or a change of control of the Company.

The Bridge Loan is secured by a first ranking charge in favour of CoTec over all of the Company’s assets.

During the year ended June 30, 2024, the Company accrued interest of $21,000 (2023 - $12,250) on the loan.

[dart321]

Ray, I guess this means CoTec will own all the assets of this company in 9 days Ray, 9 days and your loans to the company with the massive built up interest over the decaids will be worthless and your paper will be worthless. It becomes a shell with no assets on November 21,2024. My,my that was smart business sense.

[dart321]

It's to bad, this could have been something special. Zeolite is used far and wide for many things and shareholders would have made piles of money if you had worked with people and let them do their job to hepl you and the company. I guess total control was more important to you. Oh well in 9 days you will have total control of nothing if CoTec pulls the plug and I suspect they will, I would.

[SlickRick2]

CoTec would invest in IZ if they could. They said they're still watching the company and I'm sure the second they can, they will. They'd only pull the plug if Ray brought you on board :P lol