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Home 02 Jun 2007 .travel gets a last minute reprieve ICANN According to documents filed with the SEC yesterday, Michael Egan, president of theglobe.com which owns Tralliance, lent them $250,000 on onerous terms to keep the company going. The terms of the loan allow him to increase the amount up to $3,000,000. It pays 10% interest, assuming theglobe had the cash to pay interest which is unlikely, and can be converted into stock at one cent per share. The filings say this loan is to provide working capital while they look for longer term financing. See more ... posted at: 18:15 :: permanent link to this entry :: 0 comments Trackback link is http://jl.ly/ICANN/travelnotdead.trackback

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