CAC Realty & SPP promissory note question (10-K fi
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Posted On: 05/06/2023 10:16:00 PM
CAC Realty & SPP promissory note question (10-K filing)
Promissory note laws vary by state, but they typically include the loan amount, loan terms and signatures from both the lending and borrowing party. If the promissory note doesn’t meet certain requirements, it may become invalid.
Is there a Snpw attorney (on behalf of SPP) that reviewed the promissory note signed by the ceo of Snpw/SPP and the owner of CAC Realty (same person as Snpw/SPP ceo)?
That promissory note document seems material enough to shareholders that would call for some internal Snpw, Inc legal review, before signing, along with witness signature(s) and notary.
Is the executed promissory note between CAC Realty and Snpw/SPP subject to NJ law (CAC Realty entity registered in NJ) or Nevada law (Snpw entity registered corp in Nevada).
Since Snpw/SPP is a public company, maybe get some confirmation the promissory note aligns with SEC regulations and does not create a conflict of interest?
I'm sure shareholders would like to feel good about their financial investment in the company including the public company's legal counsel review prior to signing of the promissory note involving a financial liability.
in my humble opinion
cheers
Promissory note laws vary by state, but they typically include the loan amount, loan terms and signatures from both the lending and borrowing party. If the promissory note doesn’t meet certain requirements, it may become invalid.
Is there a Snpw attorney (on behalf of SPP) that reviewed the promissory note signed by the ceo of Snpw/SPP and the owner of CAC Realty (same person as Snpw/SPP ceo)?
That promissory note document seems material enough to shareholders that would call for some internal Snpw, Inc legal review, before signing, along with witness signature(s) and notary.
Is the executed promissory note between CAC Realty and Snpw/SPP subject to NJ law (CAC Realty entity registered in NJ) or Nevada law (Snpw entity registered corp in Nevada).
Since Snpw/SPP is a public company, maybe get some confirmation the promissory note aligns with SEC regulations and does not create a conflict of interest?
I'm sure shareholders would like to feel good about their financial investment in the company including the public company's legal counsel review prior to signing of the promissory note involving a financial liability.
in my humble opinion
cheers
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