Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
On February 25 and 28, 2009, SG Telecom, Inc. received a total of 250,000,000
Yen or approximately $2,577,000 at current exchange rates in working capital
loans. The loans are expected to require a balloon payment of 250,000,000 Yen or
approximately $2,577,000 on April 30, 2009. Interest of 15.0% is to be paid
starting on February 25, 2009. SG Telecom paid a 10% fee for this working
capital loan.
The loans are guaranteed by Hideki Anan, Kyo Nagae, all Global Hotline
affiliated entities and two directors of Global Hotline.
The amendments and agreements will be filed as exhibits to the Form 10-K for the
twelve months ending March 31, 2009.
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