Description of Personal Loan from William G. Styles to Organic Plant Health, LLC. not represented by Promissory Note
Contract Categories:
Business Finance
- Loan Agreements
EX-10.11 7 ex10_11.htm
Description of Personal Loan from William G. Styles to Organic Plant Health, LLC.
– not represented by Promissory Note
| $68,384.00 | As of September 30, 2011
|
| Charlotte, North Carolina | |
Loan From: Mr. William G. Styles
Loan To: Organic Plant Health, LLC
Balance of 9/30/2011: $68,384.00
Interest Due: 5.5% Annually
Interest Paid: Monthly
Maturity Date: January 1, 2016
Purpose of Loan: Mr. Styles loaned the money to Organic Plant Health, LLC for the
purpose of helping fund the operations of the company.
Conversion: At such point as Mr. Styles and the company mutually agree, the outstanding loan amount, including all unpaid principle and interest, may be converted to common stock of the parent company, Organic Plant Health, Inc., (OTC:OPHI) at the rate of $.05 per common share.
