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Posted On: 11/17/2022 12:46:42 PM
Post# of 13014
Re: ThreeEmInEn #3368
It is all spelled out in the financials.
I guess we have to see if he takes over 100 percent of Medrecycler LL or defers again.
He has already deferred twice On December 31, 2019, Mr. Campanella agreed to extend the forbearance until December 31, 2020.
"Then on December 31, 2020, Mr. Campanella agreed to extend the forbearance until December 31, 2022."
10Q
History a wonderful thing.
Quote:
And someone gave until December 31, 2022 to get paid a million+ in deferred salary.
I guess we have to see if he takes over 100 percent of Medrecycler LL or defers again.
He has already deferred twice On December 31, 2019, Mr. Campanella agreed to extend the forbearance until December 31, 2020.
"Then on December 31, 2020, Mr. Campanella agreed to extend the forbearance until December 31, 2022."
10Q
Quote:
In January 11, 2019, the Company entered into that certain Forbearance Agreement between the Company and Nicholas Campanella. Mr. Campanella is owed approximately $648,400 in principal and interest on loans and lines of credit issued by the Company. Those debt obligations are currently in default. As consideration for the forbearance of those debts, the Company has agreed to provide a pledge of 100% membership interest in MedRecycler, LLC, and wholly owned subsidiary of the Company organized in the state of Nevada which holds 51,000 shares of MedRecycler-RI, Inc. as security against the moneys owed. The amounts owed to Mr. Campanella date back nearly five years and represent cash payments made by Mr. Campanella to Sun Pacific Power Corp. On April 3, 2019, Mr. Campanella agreed to extend the forbearance until December 31, 2022.
History a wonderful thing.
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