Description of Oral Loan Agreement Between Cataca Resources, Inc. and Edward Barrios
Cataca Resources, Inc. received two unsecured, interest-free loans from its Director, Edward Barrios, totaling $23,000. The first loan of $8,000 was made on December 1, 2013, and the second loan of $15,000 was made on March 1, 2014. Both loans are repayable upon demand and do not include any additional covenants or conditions beyond the company's obligation to repay the principal when requested.
Description of Oral Agreement Between
The Company and Edward Barrios
On December 1, 2013, the Company received a loan from its Director Edward Barrios in the amount of $8000. On March 1, 2014, the Company received a loan from its Director Edward Barrios in the amount of $15,000. Both of these loans are unsecured and are payable upon demand. Neither contains any covenants on the part of the Company or Mr. Barrios except for the covenant of the Company to pay the principal upon demand. Neither of the loans bears any interest.
