- 4 - shares of stock in petitioner that each shareholder received is set forth below: Equity Shares of Percentage of Shareholder Contribution Common Stock Common Stock Lothar Schweigert $ 88,000 880,000 47.96 Robert TeSelle 26,000 260,000 14.17 Jan Strand 16,500 165,000 8.99 William Maffit 16,500 165,000 8.99 Chris Rakhshan 16,500 165,000 8.99 Paul Stevenson 10,000 100,000 5.45 Daniel Kliska 10,000 100,000 5.45 $183,500 1,835,000 100.00 Also, petitioner received a total of $2,322,838 in the form of secured startup loans -- $2,169,013 from three unrelated creditors and $153,825 from Schweigert. Each secured loan was evidenced by a promissory note executed on behalf of petitioner. In addition, petitioner received from a group of individuals consisting of six of petitioner’s shareholders and one other individual (collectively referred to hereinafter as the “debenture holders”) funds totaling $1,337,500 (debenture funds). Documents entitled debenture notes, executed on behalf of petitioner in favor of the debenture holders, reflected the debenture funds. The amount and percentage of total debenture funds received by petitioner from each debenture holder are set forth below:Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 Next
Last modified: May 25, 2011