| Schedule of participants in credit facility |
The following table shows the directors, executive officer and principal stockholder that participated in the Goldline Credit Facility transaction, and provides related information:
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Goldline Lenders |
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Position/Relationship |
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Amount of Company Indebtedness Acquired (1)
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Gregory N. Roberts |
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Chief Executive Officer, Director and principal stockholder |
(2) |
$ |
587,500 |
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(2) |
William A. Richardson |
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Principal stockholder |
(3) |
587,500 |
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(3) |
Jeffrey D. Benjamin |
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Chairman of the Board and Director |
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1,000,000 |
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Ellis Landau |
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Director |
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375,000 |
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William Montgomery |
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Director |
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1,500,000 |
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Jess Ravich |
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Director |
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500,000 |
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(4) |
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4,550,000 |
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7 other persons |
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Non-affiliated members |
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2,950,000 |
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$ |
7,500,000 |
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_________________________________ |
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(1) |
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The amount shown was expected to remain outstanding throughout the term of the Goldline Credit Facility, with repayment due in August 2020. However, in December 2018, the Company prepaid the principal, accrued interest and a 2% premium to the lenders. |
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(2) |
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Silver Bow Ventures LLC (“Silver Bow”) is the Lender. Mr. Roberts holds 50% of the ownership interests in and controls Silver Bow. Accordingly, the amount of indebtedness shown, and the interest amounts potentially payable on such indebtedness shown, represent 50% of the aggregate amounts of indebtedness held by and potential interest payable to Silver Bow. |
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(3) |
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Silver Bow is the Lender. Mr. Richardson holds 50% of the ownership interests in and controls Silver Bow. Accordingly, the amount of indebtedness shown, and the interest amounts potentially payable on such indebtedness shown, represent 50% of the aggregate amounts of indebtedness held by and potential interest payable to Silver Bow. |
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(4) |
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Libra Securities Holdings, LLC is the Lender. Mr. Ravich and a trust for his family members holds 100% of the ownership interests and controls Libra Securities Holdings, LLC. |
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