GREEN ENDEAVORS, INC. (OTCMKTS:GRNE) Files An 8-K Triggering Events That Accelerate or Increase a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement
ITEM 2.04
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TRIGGERING EVENTS THAT ACCELRATE OR INCREASE A DIRECT FINANCIAL OBLIGATION OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT |
Productions Inc. received a Notice of Default from TCA Global
Credit Master Fund, LP advising Sack Lunch that it had failed to
make three (3) monthly payments due in accordance with the Senior
Secured Credit Facility Agreement that agreement was effective as
of October 31, 2015. The total amount of current past due is in
the amount of $628,743. The Company as a subsidiary of Sack Lunch
was made a party to the agreement with TCA as a Guarantor and is
thus under obligations for payment and is subject to a security
interest for the payment of the debts. The Company has not
received its own Notice of Default. Failure to cure the default
would lead to an increase in the interest rate on the debt and
acceleration of the payment for the balance of the debt. Sack
Lunch has reported that efforts to resolve the issue are being
pursued and are ongoing as of the date of this filing.
filing of an 8-K on 10/22/2015 included as part of this report:
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Exhibit No.
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Page No.
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Description
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About GREEN ENDEAVORS, INC. (OTCMKTS:GRNE)
Green Endeavors, Inc. (Green) operates two hair care salons that feature Aveda products for retail sale. Landis Salons, Inc. (Landis I) operates its business within an approximately 4,000 square foot space located in the Liberty Heights District of Salt Lake City, Utah as an Aveda Lifestyle Salon. Landis Salons II, Inc. (Landis II) operates within an over 3,024 square foot space located in the Marmalade District of Salt Lake City, Utah under the Landis Lifestyle Salon brand as an Aveda Lifestyle Salon. The Company also operates an Aveda Experience Center in City Creek Center, a shopping mall located in the central business district of Salt lake City, Utah. Aveda Experience Centers operate as retail outlets of Aveda branded products, including the full lines of hair care products, makeup and skin care. The salons offer hair care and other salon services, such as makeup, skin care and nail care. GREEN ENDEAVORS, INC. (OTCMKTS:GRNE) Recent Trading Information
GREEN ENDEAVORS, INC. (OTCMKTS:GRNE) closed its last trading session 00.000 at 0.350 with 2,704 shares trading hands.
