Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events (Details Narrative 2)

v3.5.0.2
Subsequent Events (Details Narrative 2)
Nov. 29, 2016
USD ($)
Subsequent Events Details Narrative 2  
Financing agreement $ 3,500,000 [1]
[1] The 5BARz Group have paid margin monies to be applied against loan principal in the amount of $250,000 USD on September 21, 2016 with a commitment to pay a further amount of $110,000 USD, 5 days from release of the initial $1.5 million loan from RRM Resources. The loan is to be funded in two parts, the initial traunche of $1.5 million is to be funded within 12 days of the payment of the first tranche of the margin money, and the second tranche of $2.0 million to be funded, with 25 days of payment of the initial margin monies. The loan term is 11 months from receipt of the first $1.5 million, with an interest rate the greater of 4% on the outstanding principal, or 6 month LIBOR +2%. The loan was not yet funded by October 20, 2016