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Jones Soda Co. (JSDA) Message Board

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

    Old Credit Facility


    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

    This topic is deleted.
0.430.0000(0.00%)Sep 27 3:50 PMEDT