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Pastimes : Plastics to Oil - Pyrolysis and Secret Catalysts and Alterna -- Ignore unavailable to you. Want to Upgrade?

To: dreaminbig who wrote (6509)	4/20/2011 7:59:56 PM
From: SteveF	Read Replies (1) \| Respond to of 53574

Pak-it maybe a subsidiary no longer needed. Except now there's a lien on Pak-It's assets and AR (for a piddly $100k loan): On December 1, 2010 the Company entered into a secured short-term loan agreement with an existing shareholder. The loan was in the amount of $100,000. The loan was used for working capital purposes and bears interest at an annual rate of 6%. The entire principal of the loan together with all accrued interest is due and payable on December 1, 2011. The loan is secured against the receivables and assets of Pak-It. sec.gov