Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
Metavesco, Inc. incurred loan of $30,000 with Restore Franchise Group, LLC at 3% per annum, compounded yearly maturing 1 year from the execution of the Loan Agreement, or July 10, 2024.
- Instrument
- loan
- Principal
- $30,000
- Counterparty
- Restore Franchise Group, LLC
- Rate
- 3% per annum, compounded yearly
- Maturity
- 1 year from the execution of the Loan Agreement, or July 10, 2024
- Event
- incurrence
Exact text from the filing
the Lender promises to loan thirty thousand dollars USD ($30,000) to the Company and the Company promises to repay this principal amount to the Lender, with interest payable on the unpaid principal at the rate of 3% per annum, compounded yearly; (ii) the thirty thousand dollars USD ($30,000) will be repaid in full within 1 year from the execution of the Loan Agreement, or July 10, 2024
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
Metavesco, Inc. entered into Restore Franchise Group, LLC Loan Agreement with Restore Franchise Group, LLC valued at $30,000 loan at 3% per annum interest, due July 10, 2024 (effective 2023-07-10).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Restore Franchise Group, LLC
- Value
- $30,000 loan at 3% per annum interest, due July 10, 2024
- Effective
- 2023-07-10
Exact text from the filing
On July 10, 2023, Metavesco, Inc. (the “Company”), entered into a Loan Agreement (the “Loan Agreement”) with Restore Franchise Group, LLC (the “Lender”), a limited liability company, duly organized, in good standing and existing under the laws of the state of Georgia. The Lender is wholly owned by Ryan Schadel, the Chief Executive Officer, sole director and majority stockholder of the Company. According to the terms of the Loan Agreement, (i) the Lender promises to loan thirty thousand dollars USD ($30,000) to the Company and the Company promises to repay this principal amount to the Lender, with interest payable on the unpaid principal at the rate of 3% per annum, compounded yearly; (ii) the thirty thousand dollars USD ($30,000) will be repaid in full within 1 year from the execution of the Loan Agreement, or July 10, 2024; (iii) in the event the Company defaults on the performance its obligations under the Loan Agreement, the Lender may declare the principal amount then owed under Lo
View on SEC.gov