FINANCE AN MFI-5022-early in 2012 dobbs corporation engaged kiner ,inc to design and construct

| April 14, 2018

early in 2012 dobbs corporation engaged kiner ,inc to design and construct a compleate modernization of dobbs manufacturing facility .construction was begun on june 1,2012 and was completed on decembetr 31,2012 .dobbs 31,2012 .dobbs made the following payment to kinerdate paymentjune 1,2012 4800000august 31,2012 7200000December 31,2012 6000000in order to help finance the construction ,dobbs issued the following during 20121. Br. 4000000 of 10 year ,9% bond payable , issued at par on may 31,2012 with interest payable annually on may 312. 1000000 shares of no -par common stock issued at br .10 per share on October 1,2012in addition to the 9% bond payable , the only debt outstanding during 2012 was a br.1000000 12% note payable dated january 1,2008 with interest payable annually on january 1.

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