Summary of Short-Term Loan Transactions Between SVI Solutions, Inc. and World Wide Business Centres
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Summary
SVI Solutions, Inc. received three short-term loans from World Wide Business Centres, a company affiliated with one of its directors, Donald S. Radcliffe. The loans, totaling $245,000, were made and repaid between May 2001 and June 2002, with interest calculated at the prevailing prime rate. No formal promissory notes or written contracts were used for these transactions.
EX-10.12 8 svi_10kex10-12.txt Exhibit 10.12 Summary of Loan Transactions between the Company and World Wide Business Centres World Wide Business Centres, a private company affiliated with Donald S. Radcliffe, a director of SVI Solutions, Inc. (the "Company"), made three short-term loans to the Company, as follows: Loan dates Re-payment dates Amount - ---------------------------------------------------------- 5/30/01 6/1/01 $50,000 12/27/01 1/2/02 $125,000 5/14/02 6/4 & 6/19/02 $70,000 The loans were not documented by promissory notes or other contracts. The Company repaid the loans with interest calculated at the prime rate in effect at the time of the respective loans.
