All Forum Posts by: Marcelo Rosini

guys...
the goal of this thread is to learn more on what is happening with Norada and what to do now.
It's not the place or time to come with Monday's newspaper to say "you shouldn't be there".
Go create another thread for that.
The questions remain ( who else is affected, does somebody know anything else, what are the next steps to expect)  and I hope other people can provide some useful information here.

Thanks

This is what point 6 in the contract says:

If a Default exists, Maker agrees to provide Holder with shares and/or warrants equal to
the principal amount of this Promissory Note should there be a default lasting more than
three (3) months from the month of the default. Maker reserves the right to buy back
said shares and/or warrants by paying off (satisfying) the Promissory Note's outstanding
principal in full during the term of the Note.

I've received the letter too, it just says it will exercise this option, but I'm not sure what it means and for how long wll the money be stuck there.

If somebody can add any light I will appreciate it