Most small banks would give loans to companies who
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Posted On: 07/03/2019 9:56:35 AM
Most small banks would give loans to companies who can prove they have $6 million annualized sales and $2.4 million in profit. Trading on the pink sheets wouldn't matter if there was collateral such as A/R.
IMO, SB wouldn't be able to prove it if a loan officer was allowed to look at the financials and supporting documentation. That's why he has to work with folks like Canouse who lend money, at their terms, sight unseen.
What was the purpose of reverse merging? To be able to pay debt in shares rather than in cash. SB could have structured his purchase using all the money he loaned the company yet chose not to do so. Why? Caused he learned from his last job how to maximize payout to himself and leave common shareholders holding the bag. Which is why those Preferred's are such a big deal in the overall scheme of things. If he truly cared about the common shareholders he wouldn't have EXCHANGED his common for preferred as he spun his story for years about surrendering the 1.4 billion common shares to the company. It was only AFTER THE FACT that he disclosed the exchange yet he never publicly told shareholders the reason for it.
IMO, SB wouldn't be able to prove it if a loan officer was allowed to look at the financials and supporting documentation. That's why he has to work with folks like Canouse who lend money, at their terms, sight unseen.
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but as a bank would you lend money to a company trading on the pink sheets? No you wouldn't, even if you could provide collateral I can almost guarantee you they wouldn't give you a dime...to risky.
What was the purpose of reverse merging? To be able to pay debt in shares rather than in cash. SB could have structured his purchase using all the money he loaned the company yet chose not to do so. Why? Caused he learned from his last job how to maximize payout to himself and leave common shareholders holding the bag. Which is why those Preferred's are such a big deal in the overall scheme of things. If he truly cared about the common shareholders he wouldn't have EXCHANGED his common for preferred as he spun his story for years about surrendering the 1.4 billion common shares to the company. It was only AFTER THE FACT that he disclosed the exchange yet he never publicly told shareholders the reason for it.
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