This is a pretty amazing deal for the lender, and therefore, like the rest of the recent deals by this management team, bad for shareholders. Lender gets 2.5% fee plus 20% interest rate, and the ability to buy in at <2 cents. I wonder about 1. the identity of the lender and 2. whether any competitive offers were sought for this loan.
Ann: Short Term Loans Executed , page-2
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