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Jones Soda Co. (JSDA) Message Board

  • basehit123 basehit123 Jan 4, 2014 4:14 PM Flag

    Old Credit Facility

    2,000,000
    The facility will enable Jones Soda to periodically request advances up to 75% of the Company’s eligible accounts receivable. The interest rate on the facility is the Prime Rate plus 2%, but may not be less than 5.25% per annum, with a minimum facility payment of $5,000 per month. The facility has an initial one-year term, which will be automatically extended unless either party gives notice of non-renewal. The facility is guaranteed by the Company and is secured by a first priority security interest in all assets of the Company and its subsidiaries.

    In connection with the execution of the credit facility, the Company paid a $20,000 fee. Additionally, upon its initial borrowing on the facility, the Company will issue Access a warrant to purchase $50,000 in shares of the Company’s common stock with an exercise price equal to the 20 day trailing average closing price from the date of the initial borrowing

 
JSDA
0.3249+0.0049(+1.53%)Aug 31 3:20 PMEDT