Wednesday, 7 February 2007

More Money!

On January 9, 2007, JER announced a $720,000 debt financing. The term of the promissory note was for a period of one year, at an interest rate of 12% calculated annually and included 100,000 shares.

Investors should note that this loan was provided by an arm’s length existing shareholder who has been a long time supporter of the Company.

Including the additional shares given in consideration, the implied accumulative interest rate on the debt is 24.5%.
Click here for the full release.