Informal Loan Agreement Between Company and President Irish Hill
This informal agreement states that the company's President, Irish Hill, has been and will continue to loan funds to the company as needed for registration and start-up operations over the next twelve months, especially if the company does not raise enough money from its offering. There are no specific terms for repayment of these loans, and the agreement is verbal rather than written.
INFORMAL AGREEMENT WITH COMPANY PRESIDENT
Throughout the S-1 application process the President, Irish Hill, has been loaning the Company funds to complete the registration process. Throughout the next twelve (12) months, the Company’s President has verbally agreed to loan the Company an unspecified amount to assist in start-up operations, in the event that the Company raises only a portion or none of the Offering amount.
There are no agreed upon terms for the repayment of any funds loaned to the Company.
