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    ECRP   US12545Y1029

CHEE CORP.

(ECRP)
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CHEE CORP. : Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant, Financial Statements and Exhibits (form 8-K)

04/19/2021 | 04:10pm EST

Item 1.01 Entry into a Material Definitive Agreement

On March 23, 2021, Chee Corp., a Nevada corporation (the "Company"), advanced the amount of $500,000 to Klusman Family Holdings, LLC ("KFH"). The obligation to repay the advance was evidenced by a Promissory Note payable by KFH to the Company. The note matures on June 30, 2021, is unsecured, bears interest at a rate of 10% per annum, and the unpaid principal and interest may be accelerated upon an event of default as defined thereunder. The proceeds of the advance are to be used by KFH toward the purchase of real property located in Gilbert, Arizona. Aaron Klusman is the sole member of KFH. Mr. Klusman is also Chief Executive Officer and Chairman of the Board of the Company.

The information set forth in Item 2.03 is incorporated by reference into this Item 1.01.

The descriptions of the promissory notes are only summaries of the material terms of the notes, do not purport to be complete descriptions of the notes, and are qualified in their entirety by reference to the notes, copies of which are filed as Exhibits 10.1 and 10.2 and incorporated herein by reference.

 Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
           Off-Balance Sheet Arrangement of a Registrant



On March 25, 2021, the Company executed a Promissory Note payable to Farm House Partners, LLC ("Farm House"), as lender, pursuant to which the Company borrowed $90,000. The note matures on September 30, 2021, is unsecured, bears interest at a rate of 10% per annum, and the unpaid principal may be accelerated upon an event of default as defined thereunder. Farm House is the holder of a majority of common stock of the Company and Michael Witherill, the Company's Vice-Chair, is the manager of Farm House.

Item 9.01 Financial Statements and Exhibits.





(d)    Exhibits.



   10.1     Promissory Note payable by Klusman Family Holdings, LLC to Chee
          Corp.


   10.2     Promissory Note payable by Chee Corp. to Farm House Partners, LLC

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2021 - - -
Net income 2021 -0,48 M - -
Net cash 2021 0,91 M - -
P/E ratio 2021 -126x
Yield 2021 -
Capitalization 91,9 M 91,9 M -
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees 3
Free-Float -
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Income Statement Evolution
Managers and Directors
Aaron Klusman Chairman & Chief Executive Officer
Rich Gean Chief Financial Officer, Secretary & Treasurer
Michael J. Witherill Vice Chairman, CFO, Secretary & Treasurer
John P. Morgan Director
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