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The lack of Lifted’s relationships with these vendors and prospects might have a material adversarial effect on Lifted’s business. Measurements of lung perform had been assessed 3 times over an eight 12 months period amongst a smaller group of greater than 1,700 people. Federal treasury fee for instruments due over the expected time period of the warrants. The Company’s Comments: vapeleave – https://www.vapeleave.com/, The stockholders settlement entered into between Nicholas S. Warrender, Gerard M. Jacobs and William C.

Jacobs effectively prevents Nicholas S. Warrender from exercising any control over the combined entity that isn’t accepted by the Company’s current management group of Gerard M. Jacobs and vapeleave William C. Jacobs. At December 31, 2019, there was a pay as you go consulting fee of $7,500 paid to Gerard M. Jacobs. During December 2019, the principal of the Note was repaid by Lion right down to $200,000, and Lion also paid the accrued interest on the Note of $6,945.

The maturity date of the Promissory Observe is the sooner of (a) the date which is 30 days after the last day of the calendar quarter during which Lifted’s aggregate EBITDA (aggregate earnings before interest, taxes, vapeleave depreciation and vape retail store amortization) since the Closing Date of the Merger exceeds $7.5 million, or (b) the date which is the fifth anniversary of the closing date of the Merger. The Promissory Observe is secured by (a) a primary lien safety curiosity in all the belongings of the company and Lifted; and (b) a pledge of: Vape Store Kits (vapecorrect.com) (i) the entire capital inventory of Lifted; (ii) all the widespread inventory of Bendistillery, Vape Tanks Bend Spirits and Ablis that is owned by the company; and (iii) all of the capital inventory of every other entity owned by the corporate, Lifted or any of their subsidiaries, pursuant to a Collateral Inventory Pledge Agreement between Mr.