- Belgravia Hartford Capital Inc. (BLGV) provided an update on the debt owed by Zonetail Inc. (ZONE) and its related litigation
- Belgravia is a publicly traded investment holding company, and Zonetail is a mobile technology company
- Payment of the $506,125 owed by Zonetail under a promissory note is still outstanding
- A trial date has been scheduled for June 17, 2024, in Ontario regarding the litigation case that Zonetail launched against Belgravia
- Belgravia Hartford Capital Inc. (BLGV) is up 40.00 per cent, trading at $0.03 per share as of 12:25 p.m. EST
- Zonetail Inc. (ZONE) is up 20.00 per cent, trading at $0.03 per share as of 12:48 p.m. EST
Belgravia Hartford Capital Inc. (BLGV) provided an update on the debt owed by Zonetail Inc. (ZONE) and its related litigation.
Belgravia is a publicly traded investment holding company which holds all its capital assets in Canada. Zonetail is a mobile technology company servicing hotels and condominiums.
According to Belgravia, payment of the debt owed by Zonetail under a promissory note is still outstanding. The amount is reported to be $506,125, which includes an 18 per cent interest.
Zonetail paid a $32,500 interest payment on the debt outstanding to Belgravia on November 23, 2018. The debt matured on November 1, 2019.
A trial date has been scheduled for June 17, 2024, in the Ontario Superior Court of Justice regarding the litigation case that Zonetail launched against Belgravia in December 2019.
Before Zonetail became a publicly listed company, Belgravia purchased its shares through private placement transactions to build working capital and to complete the ‘going public’ transaction.
Belgravia stated it invested $876,600 in Zonetail common shares in 2018. In the same year, the company agreed to loan Zonetail $325,000 with an 8.00 per cent interest rate due November 1, 2018.
The loan was amended in October 2018 so that Zonetail would repay the debt at a later time under certain conditions. Belgravia continues to request the $506,125 owed and a counterclaim worth $2.5 million.
Belgravia Hartford Capital Inc. (BLGV) is up 40.00 per cent, trading at $0.03 per share as of 12:25 p.m. EST.
Zonetail Inc. (ZONE) is up 20.00 per cent, trading at $0.03 per share as of 12:48 p.m. EST.