BOTHELL (Yosefardi) – Borneo Resource Investments Ltd., a mining company that mines gold and develops producing gold mining properties in Indonesia, has repaid in cash its third and only remaining convertible note with Asher Enterprises, Inc., with a principal amount of $42,500, before any conversion of the note into common stock.
Borneo had previously repaid its two prior convertible notes to Asher Enterprises including one in January 2014 in the principal amount of $37,500 and another in April 2014 in the principal amount of $32,500, both before the conversion feature for each of those loans was triggered.
As a result, Borneo currently has no remaining notes with Asher Enterprises. On June 2, 2014, Asher Enterprises filed a Form 13G with the Securities and Exchange Commission indicating it did not beneficially own any shares and was not entitled to shares of the Company’s stock.