RE: People -emit/bankerson...SG...
posted on
Nov 17, 2005 07:02AM
Are you referring to what follows as the ``Financing``?...
``e. Digital Corporation has entered into amendments with the holders of the companys 12% Subordinated Promissory Notes (12% Notes) to (i) extend the maturity date under the 12% Notes from December 31, 2005 to December 31, 2006,
(ii) authorize an additional $500,000 in principal amount of 12% Notes (the Additional Notes), (iii) pay the purchasers of the Additional Notes (in the aggregate) a royalty as consideration for the additional financing necessary for the development of the companys new MedeViewer product equal to up to Twenty Dollars ($20.00) for each MedeViewer sold for a period of three years (the Royalty) and (iv) change the terms of conversion.``...
FIRST:
This is the kind of financing I like. Who everagreed to pay EDIG th additional $500,000 bought into at least 25000
Mediviers to get paid back...
SECOND:
There is nothing it the above statement that Mediviever that was seen at shareholder meeting was not a ``Full-function unit`` as you say...
They could be using the money to pay a down payment for ``Production`` of the 25000 units...
Gil...