Good news for AVRW with $2,000,000.00 of additiona
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Posted On: 08/21/2023 11:49:00 AM
Good news for AVRW with $2,000,000.00 of additional funding coming into the company at this time per the latest 10Q filing (See excerpt below, Page 39 of the filing under NOTE 20). This funding boost plus the rising revenues from sales of the company's increasingly successful Seratopical Revolution product line should accelerate the company's advance towards profitability and an up-listing to higher tier trading exchange.
Link:
https://www.otcmarkets.com/filing/html?id=168...eRV-t5HJth
NOTE 20 – SUBSEQUENT EVENTS
The Company has evaluated subsequent events through the filing date of this Quarterly Report, August 14, 2023, and there are no subsequent events that would have required adjustment or disclosure in the unaudited condensed consolidated financial statements other than the following: On July 31, 2023, the Company entered into a letter agreement (the “Agreement”) with Cure Pharmaceutical, Inc. (f/k/a TF Tech Ventures, Inc.) which extended the July 22, 2023 maturity date of the $2.0 million note receivable received in connection with the Asset Sale. Pursuant to the Agreement, the repayment to the Company will be made in three installments, as follows: $250 thousand within one day of the signing of the Agreement; $250 thousand no later than the earlier of 10 business days or 12 calendar days from the date of the first installment payment; and the remaining balance including accrued interest no later than 30 days from the date of the first installment payment. The Company received the first installment payment in the amount of $250 thousand on August 1, 2023.
Link:
https://www.otcmarkets.com/filing/html?id=168...eRV-t5HJth
NOTE 20 – SUBSEQUENT EVENTS
The Company has evaluated subsequent events through the filing date of this Quarterly Report, August 14, 2023, and there are no subsequent events that would have required adjustment or disclosure in the unaudited condensed consolidated financial statements other than the following: On July 31, 2023, the Company entered into a letter agreement (the “Agreement”) with Cure Pharmaceutical, Inc. (f/k/a TF Tech Ventures, Inc.) which extended the July 22, 2023 maturity date of the $2.0 million note receivable received in connection with the Asset Sale. Pursuant to the Agreement, the repayment to the Company will be made in three installments, as follows: $250 thousand within one day of the signing of the Agreement; $250 thousand no later than the earlier of 10 business days or 12 calendar days from the date of the first installment payment; and the remaining balance including accrued interest no later than 30 days from the date of the first installment payment. The Company received the first installment payment in the amount of $250 thousand on August 1, 2023.
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