$2m on a 6 month term at 10.25%. And they've just made a small profit on $250k revenue? They couldn't even front the interest payments let alone the capital repayment at that rate.
If you don't "need" a loan, you're getting better rates than 10.25% at the moment:
They needed it.
Ann: Binding Share Sale Agreement to Acquire Invigo, page-75
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