The Company entered into a “Deed of Advance” with another corporation in May 2019. The advance is secured and interest free until such time as either a proposed corporate transaction or an alternative commercial transaction is finalised. At that time the advances form part of the equity under either of the transactions. The facility terminated on 31 October, 2019 and is the subject of current negotiations.A new $250,000 loan/convertible note facility, from another corporation, was entered into on 28 October, 2019 for a 12 month period with interest capitalised at a rate of 12%pa.The Company entered into a “Deed of Advance” with another corporation in May 2019.
12 percent interest rate? Mines 5.45 percent for my business.
NIU Price at posting:
0.1¢ Sentiment: Sell Disclosure: Not Held
