Explanatory Letter Regarding E Venture Resources, Inc. Grid Note to SEC

Contract Categories: Business Finance › Note Agreements
Summary

This letter from Bassline Productions, Inc., signed by CEO Drew Hall, is addressed to the Securities and Exchange Commission. It clarifies that the balance on the Revolving Grid Note executed with E Venture Resources, Inc. on November 15, 2010, is not payable on demand. Instead, any amount borrowed under the note will be due and payable on November 15, 2013, addressing the SEC's concerns about the note's terms.

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EX-10.4 15 ex10-4.htm EXPLANATORY LETTER ON E VENTURES RESOURCES INC NOTE ex10-4.htm

 
April 25, 2011
 

 
Mr. Justin Dobbie
 
Securities and Exchange Commission
 
100 F. Street, NE
 
Washington, D.C. 20549
 
RE: E Venture Resources, Inc. Grid Note
 

 
In response to the SEC’s comments regarding the payable on demand feature of the Revolving Grid Note executed on November 15, 2010, we have revised the Grid Note to clarify. It was never the intention of Bassline Productions, Inc. or E Venture Resources, Inc. to have the balance due on this note payable on demand. The amount borrowed on the note will be due and payable on November 15, 2013.
 

 
/s/ Drew Hall                                                                           
Drew Hall
Bassline Productions, Inc.
Chief Executive Officer