If LEXG is paying 12% on funding, this rate is a lot higher than junk bond status. Tells you what lender thinks of LEXG. And if they have to borrow $1.5 million at 12%, why did they spend $3.3 million not to long ago for promotional mailings? Doesn't make any sense IMO.
This company is crap, so u pay 12%, and when they default they won't get another loan, but 1.5mill is nothing when you can selling more company stock to pay for it (illegally) so all-in-all this company is crap,crap,crap!