Hiru Corporation (HIRU) has released an update to notify the public and investors about its financial commitment initiation.
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HIRU, a non-reporting issuer with the SEC, entered into a $1.4 million loan agreement with Bayern Industries on May 22, 2022, to finance the purchase of water equipment and provide operating cash for business expansion. This loan was recorded in the company’s financials, but not specifically attributed to Bayern by name. As of July 2023, HIRU defaulted on the loan, and Bayern had previously filed a UCC notice in the state where HIRU and its subsidiaries operate.
For further insights into HIRU financials, check out TipRanks’ Financials page.
For a comprehensive understanding of the announcement, you can read the full document here.