HIRU Corp (HIRU): debt financing — HIRU Corp. defaults on $1.4M loan to Bayern Industries; new management takes over, restructuring agreed

HIRU Corp

Default on $1.4M loan from Bayern Industries (May 2022) occurred July 2023; UCC filing Jan 24, 2024 lists water equipment collateral.
New management gained control on or about Oct 16, 2023; filed board notes with OTC Markets on Nov 10 and Nov 13, 2023.
Company reached agreement in principle with Bayern to restructure the loan and resume water packing operations; definitive deal to follow.
Principal executive offices moved to West Palm Beach, FL (500 S Australian Ave Suite 600) from Glendale, AZ.

item 2.03 item 5.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

HIRU Corp incurred loan of $1.4 Millions with Bayern Industries.

Instrument: loan
Principal: $1.4 Millions
Counterparty: Bayern Industries
Event: incurrence

Exact text from the filing

On or about May 22, 2022, the issuer HIRU entered into a certain loan agreement of $1.4 Millions with Bayern Industries (the "creditor").

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299 debt financings filed in the last 30 days. Browse all debt financings →

HIRU Corp filing history →

Source: SEC EDGAR

accession 0001683168-24-000626

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