The only loan(s) I see that has been paid for is the $250,000 that was lent by two directors of the Company. All other loans according to the Companys documents show that all Jilin loans that came due have been re-written. So what other debt do you see that was paid off in full?
The debt that came due on Jan17 is now due at a higher amount on April 17 for $560,412. However another loan for $500,000 is due this Weds.
Maybe you can tell me if the $1,000,000 loan from Jilin that was due on March 7 was paid off in full. I could be wrong but I'll assume it was also re-written and extended.
The good news is that the terms don't change. It just keeps compounding at the original 8%.
May I ask you where you are getting the $3 cost per pound? Can I assume your math is for just production costs like Gary's?