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Pastimes : Plastics to Oil - Pyrolysis and Secret Catalysts and Alterna
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To: SteveF who wrote (6581)4/21/2011 8:13:40 PM
From: SteveFRead Replies (1) of 53574
 
So this is how Javaco gets shuffled out the back door:

"The notes payable are secured by Javaco’s inventory, a subsidiary of the Company, bears interest at an annual rate of 6% and are due on December 31, 2011." Notes payable: $112,500

...

During the year, the Company’s former consultants and an executive officer claimed money owed to them for consulting work performed in fiscal 2010. The Company entered into a settlement agreement on February 28, 2011 to pay the consultants and the former executive officer the sum of $312,500. The Company paid $200,000 immediately in cash and issued a note payable for the remaining settlement amount of $112,500"

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