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Posted On: 10/30/2021 9:20:29 PM
Post# of 13842
Here's your answers to the Pyro SS, LLC questions, but more questions added to your questions. lol
Yikes, it looks like Pyro SS, LLC will get first dibs (position) on the Medi-RI pyrolysis equipment. Is it still at the Medi-RI facility. I think Pyro SS, LLC gave the company an extension until July 28, 2021 unless extended.
That issuance and loan by MedRecycler-RI, Inc had to be in Q3 (ending September 30,2020) based on the this Q3 2020 10-Q (link below). This same company didn't file as as an LLC in PA until October 12, 2020? Was it the same entity/ownership at the time Medi-RI issued a first position secured convertible loan to Pyro SS, LLC in the amount of $500,000. No principals named on the PA LLC filing. SNPW recently announced they have divested of MedRecycler -RI Inc. and looked to be part of the deconsolidation referenced in the Q2 2021 filing. Not sure how MedRecycler RI Inc. can own the pyrolysis equipment any longer. Does Pyro SS, LLC already own it? If not, is the equipment protected? Making further complicated is the fact that MedRecycler RI Inc was in default of the facility lease per Q2 10-Q filing.
What do I know? Pieces of SNPW subsidiaries seem to be floating around all over the place. Maybe the dormant ones are the safest?
See page 22
https://www.marketscreener.com/quote/stock/SU...-31855159/
"In order to prevent a default of the bridge financing for the Rhode Island Project, the MedRecycler-RI, Inc. has issued a first position secured convertible loan to Pyro SS, LLC in the amount of $500,000, carrying a 6% interest rate, which shall convert into 11,000 shares upon the issuance of an operating permit by the state of Rhode Island sufficient to commence operations of the Rhode Island Project. In the event of a conversion, the economic interest to be received by the Company will be reduced from 51% to approximately 46%. The convertible note shall be secured by all such securities previously secured under the Indenture of Trust, as amended. In the event of default on the convertible loan, Pyro SS, LLC shall have a first position on liquidation of the security interests. Further under a Term Sheet that MedReycler-RI, Inc entered into with Pyro SS, LLC. MedRecycler RI, Inc. is currently drafting agreements under the term sheet for a stock purchase agreement for $1,500,000 upon receiving its operating permits for an additional twenty percent (20%) percent of common stock of MedRecycler-RI, Inc."
Yikes, it looks like Pyro SS, LLC will get first dibs (position) on the Medi-RI pyrolysis equipment. Is it still at the Medi-RI facility. I think Pyro SS, LLC gave the company an extension until July 28, 2021 unless extended.
That issuance and loan by MedRecycler-RI, Inc had to be in Q3 (ending September 30,2020) based on the this Q3 2020 10-Q (link below). This same company didn't file as as an LLC in PA until October 12, 2020? Was it the same entity/ownership at the time Medi-RI issued a first position secured convertible loan to Pyro SS, LLC in the amount of $500,000. No principals named on the PA LLC filing. SNPW recently announced they have divested of MedRecycler -RI Inc. and looked to be part of the deconsolidation referenced in the Q2 2021 filing. Not sure how MedRecycler RI Inc. can own the pyrolysis equipment any longer. Does Pyro SS, LLC already own it? If not, is the equipment protected? Making further complicated is the fact that MedRecycler RI Inc was in default of the facility lease per Q2 10-Q filing.
What do I know? Pieces of SNPW subsidiaries seem to be floating around all over the place. Maybe the dormant ones are the safest?
See page 22
https://www.marketscreener.com/quote/stock/SU...-31855159/
"In order to prevent a default of the bridge financing for the Rhode Island Project, the MedRecycler-RI, Inc. has issued a first position secured convertible loan to Pyro SS, LLC in the amount of $500,000, carrying a 6% interest rate, which shall convert into 11,000 shares upon the issuance of an operating permit by the state of Rhode Island sufficient to commence operations of the Rhode Island Project. In the event of a conversion, the economic interest to be received by the Company will be reduced from 51% to approximately 46%. The convertible note shall be secured by all such securities previously secured under the Indenture of Trust, as amended. In the event of default on the convertible loan, Pyro SS, LLC shall have a first position on liquidation of the security interests. Further under a Term Sheet that MedReycler-RI, Inc entered into with Pyro SS, LLC. MedRecycler RI, Inc. is currently drafting agreements under the term sheet for a stock purchase agreement for $1,500,000 upon receiving its operating permits for an additional twenty percent (20%) percent of common stock of MedRecycler-RI, Inc."
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