Leader Capital Holdings Corp. Just Filed Its Quarterly Report: 14. SUBSEQUENT EVENT...

14. SUBSEQUENT EVENTS

 

Since the beginning of January 2020 and through the date of this report, the entire global economy has been substantially impacted by the coronavirus pandemic which began in China and has spread to most other parts of the world. The range of possible impacts on the Company’s business from the coronavirus pandemic could include, but would not necessarily be limited to, one or more of the following factors:

 

  - A negative impact due to a contraction in the demand for the Company’s services
  - A negative impact due to a contraction in the capital markets required to support the Company’s new business strategy
  - A negative impact on the availability of key personnel necessary to conduct the Company’s business activities
  - A negative impact on the business and operations of third-party service providers who perform critical services for the Company

 

From March to April 2020, the Company entered into various short-term loan agreements with LOC and a company in Beijing, whereby the Company provided additional loans of $221,420 and $104,000 respectively. The loans are secured by the personal guarantees of some of the stockholders, bear interest at a rate of 8% per annum, and are due on various dates through April 2021.

The above information was disclosed in a filing to the SEC. To see the filing, click here.

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