Delt.ai Loan due July 8, 2023 : Restructuring Update

23

@billwolf @Monica Looking forward to your reply. Thank you

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24

Hello,

What’s the current situation? We’re a bit in the dark with no news. Aren’t we due to receive the interest for the past 3 months soon?

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25

Yes, we would appreciate some update…

26

I’ve posted my question over 40 days ago and have yet to receive any response from Archblock. This also applies to other people’s posts that have gone unanswered. During this period, Archblock even requested that we pay their salaries. October 6th was supposed to be the due date for the second interest payment, and despite multiple inquiries, there has been no response. This is utterly ridiculous.

27

We are pleased to report that we have received two significant payments from Albo (the new parent company of delt.ai; “Albo” or “the Company”) in the last few weeks which were contractually agreed to as part of the restructuring of the loan with delt.ai in early July 2023:

  • As a result of the purchase of delt.ai by Albo (transaction announced on August 3, 2023), delt.ai and Albo, as acquirer of delt.ai were obligated to make a principal payment of US$400,000 plus accrued interest on that amount since the loan restructuring on Jul 8, 2023 of US$14,784.

    • Post that principal payment, the amount of the still outstanding loan is now US$4,000,000 and hence approximately 27% of the outstanding loan as of the original principal amount from the January 2023 restructuring has been repaid and all previously accrued interest has also been paid.

  • In addition, the Company has paid its first quarterly installment on the remaining principal amount totalling US$187,397.26

  • Both of the recently received payments totalling US$602,181.26 will be made available to the holders in the tfUSDC pool for airdrop in the next few days. We will post here when the airdrop is available as soon as practicable.

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28

Any update for this ? thanks

29

Apparently they created the contract 2 weeks ago, but they still haven’t funded it with USDC.

30

Hey Archblock Team,

It’s been over 20 days since the repayment from Albo, and the airdrop contract has been up for two weeks now, but there’s still no USDC in it. Any updates on this? We’re all waiting for the airdrop. Hope it can be sorted out soon.

Thank you very much

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31

Hi all - here is the link for the October 2023 airdrop claiming instructions.

32

Hello,

Any news about it? Is an early repayment planned?

33

Was the Jan 4 payment made?

34

Happy New year! Any update for new payment ? thanks

35

Hi,

Period II (October 6, 2023 to January 4, 2024): 20% is done, any news?

36

Hi all - we received the interest payment and are working on the transfer and airdrop. Will share the instructions as soon as they are live. Thank you.

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37

Hi all,

The airdrop for the January interest payment is now ready for users to claim:

Address: 0xaAab06b81dA17A11E4Ada38a9DBa1D090D95253a

Instructions: delt.ai loan: Jan 2024 airdrop claiming instructions - TrueFi Docs

Thank you

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38

Hi, is there any news?

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39

@McNulty isn’t it the next payment on April the 3rd?

40

Yes, the next interest payment is due on April 3, 2024. We will update the community once that payment has been received and then subsequently when funds are available to participants in the pool to withdraw their pro-rata portion of the funds. Thank you.

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42

Hello, sir bill
Based on what you currently know about Albo (delt.ai), will Albo (delt.ai) be making a full repayment, including both the principal and interest, by July of this year?

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43

Hello any update ? thanks

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