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Pastimes : Plastics to Oil - Pyrolysis and Secret Catalysts and Alterna

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To: scion who wrote (2123)	9/7/2010 1:30:13 PM
From: SteveF	Read Replies (1) of 53574

What do they mean by "the vendor took back the mortgage"? That's how the transaction is described in the last two 10Q's: On June 17, 2010, the Company purchased a building to be used as a corporate office. The purchase price was $369,769. The Company put $97,308 down and the vendor took back a five-year mortgage for $272,461 at an interest rate of 7%. The mortgage is denominated in Canadian dollars and will fluctuate based on the exchange rate in effect. sec.gov During the quarter the Company paid approximately $100,000 toward the purchase of a new corporate office building located in Thorold, Ontario. The purchase price of the building was $369,769 at an interest rate of 7%. The vendor took back the mortgage on the building, which is denominated in Canadian dollars and will fluctuate based on the exchange rate in effect. sec.gov This isn't the fuel-blending site. Who did JBII buy it from? Whoever itwas got a pretty sweet deal: shareholders gave him $100k cash and assumed his mortgage.

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