Re: sge, i think you are right on, add, the junior lender who
posted on
Mar 01, 2007 06:29AM
SGE I think it is a total of 700k. Patriot loaned Holocom $560,000 under this agreement. That loan was secured by substantially all of Holocom’s assets, subject to a senior lien of a factor in Holocom’s receivables and inventory. Patriot agreed that it would transfer the Holocom assets and $140,000 to Scripps in return for all of the Preferred Stock of SSDI (constituting approximately 45% of the outstanding capitalization of SSDI).