Three reasons to buy #ARIOQ:
Plan of Reorganization
http://www.pacermonitor.com/view/BHE47LA/Amer...0027.1.pdf
Three reasons to buy #ARIOQ:
- Gross profit of $42,500 for the month of February according to their filings with the courts
- More info about the company that will run #ARIOQ - http://payrollfundings.com/
- More info about their product that will generate profit: http://payrollfundings.com/wp-content/uploads...2015_1.pdf
AmeriResource Technologies Financing Approval Sought
by Linzee Brownon November 30, 2015
According to the U.S. Bankruptcy Court docket, AmeriResource Technologies filed a motion for entry of an order authorizing the Debtor to (i) obtain post-petition financing from Payroll Funding Company (PFC) and grant liens and security interest and (ii) enter into marketing agreement.
The Debtors request the approval of financing up to $200,000, payable as follows: (i) the maximum monthly advance is $75,000 and (ii) the maximum outstanding borrowing is $200,000. The proposed D.I.P. loan from PFC is interest free with a first priority lien on all future cash receivables. The Debtor has no other assets to pledge as collateral.
The motion explains, “Here, the proposed DIP Loan is critical to the Debtor’s existence and ability to formulate and fund a Plan of Reorganization. The proposed DIP Loan and Marketing Agreement with PFC will provide the Debtor with a stream of income from which to fund a plan. Thus, the likelihood of the Debtor consummating a plan of reorganization will significantly increase. As a result, the Debtor does not intend to liquidate any assets, which are necessary for ongoing operations. This will undoubtedly result in a benefit to all of the stakeholders in this case. In connection with the fiduciary duty the Debtor owes to its creditors, it is imperative that the Debtor receive the new DIP Loan so that it can continue to operate.”
CREDIT LINE AGREEMENT ~
* Filed 11/25/15
Payroll Funding Company, LLC. ("Lender"
hereby agrees to lend $200,000 to AmeriResource Technologies, Inc. ("Borrower" on the following terms and conditions:
1) Effective Date: The Effective Date hereof is Tuesday, December 1, 2015
To be signed by:
* PAYROLL FUNDING COMPANY, LLC ~ Lisa Nelson, Officer
* AMERIREOURCE TECHNOLOGIES, INC ~ William R. Robins, President
MARKETING AGREEMENT ~
* Filed 11/25/15
Payroll Funding Company, LLC will supply marketing services to AmeriResource Technologies, Inc. on the following terms and conditions:
1) Effective Date hereof is December 1, 2015
To be signed by:
* PAYROLL FUNDING COMPANAY, LLC ~ Lisa Nelson, Officer
* AMERIRESOURCE TECHNOLOGIES, INC ~ William R Robins, President
DEFINITION of 'Chapter 11'
Named after the U.S. bankruptcy code 11, Chapter 11 is a form of bankruptcy that involves a reorganization of a debtor's business affairs and assets. It is generally filed by corporations which require time to restructure their debts.
Chapter 11 gives the debtor a fresh start, subject to the debtor's fulfillment of its obligations under its plan of reorganization.
Plan of Reorganization
http://www.pacermonitor.com/view/BHE47LA/Amer...0027.1.pdf
Three reasons to buy #ARIOQ:
- Gross profit of $42,500 for the month of February according to their filings with the courts
- More info about the company that will run #ARIOQ - http://payrollfundings.com/
- More info about their product that will generate profit: http://payrollfundings.com/wp-content/uploads...2015_1.pdf
AmeriResource Technologies Financing Approval Sought
by Linzee Brownon November 30, 2015
According to the U.S. Bankruptcy Court docket, AmeriResource Technologies filed a motion for entry of an order authorizing the Debtor to (i) obtain post-petition financing from Payroll Funding Company (PFC) and grant liens and security interest and (ii) enter into marketing agreement.
The Debtors request the approval of financing up to $200,000, payable as follows: (i) the maximum monthly advance is $75,000 and (ii) the maximum outstanding borrowing is $200,000. The proposed D.I.P. loan from PFC is interest free with a first priority lien on all future cash receivables. The Debtor has no other assets to pledge as collateral.
The motion explains, “Here, the proposed DIP Loan is critical to the Debtor’s existence and ability to formulate and fund a Plan of Reorganization. The proposed DIP Loan and Marketing Agreement with PFC will provide the Debtor with a stream of income from which to fund a plan. Thus, the likelihood of the Debtor consummating a plan of reorganization will significantly increase. As a result, the Debtor does not intend to liquidate any assets, which are necessary for ongoing operations. This will undoubtedly result in a benefit to all of the stakeholders in this case. In connection with the fiduciary duty the Debtor owes to its creditors, it is imperative that the Debtor receive the new DIP Loan so that it can continue to operate.”
CREDIT LINE AGREEMENT ~
* Filed 11/25/15
Payroll Funding Company, LLC. ("Lender"
hereby agrees to lend $200,000 to AmeriResource Technologies, Inc. ("Borrower" on the following terms and conditions: 1) Effective Date: The Effective Date hereof is Tuesday, December 1, 2015
To be signed by:
* PAYROLL FUNDING COMPANY, LLC ~ Lisa Nelson, Officer
* AMERIREOURCE TECHNOLOGIES, INC ~ William R. Robins, President
MARKETING AGREEMENT ~
* Filed 11/25/15
Payroll Funding Company, LLC will supply marketing services to AmeriResource Technologies, Inc. on the following terms and conditions:
1) Effective Date hereof is December 1, 2015
To be signed by:
* PAYROLL FUNDING COMPANAY, LLC ~ Lisa Nelson, Officer
* AMERIRESOURCE TECHNOLOGIES, INC ~ William R Robins, President
DEFINITION of 'Chapter 11'
Named after the U.S. bankruptcy code 11, Chapter 11 is a form of bankruptcy that involves a reorganization of a debtor's business affairs and assets. It is generally filed by corporations which require time to restructure their debts.
Chapter 11 gives the debtor a fresh start, subject to the debtor's fulfillment of its obligations under its plan of reorganization.
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