|
Description
|
Information
|
2013
|
2012
|
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|
Interest Rate
|
8 - 12% | 8% | ||||||||
|
Maturity Date(s)
|
Apr. 1, 2013 – Aug. 28, 2013
|
Aug 3, 2012 – Feb. 14, 2013
|
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|
Series 1
|
58% of the average of the lowest 3 trading days prior to the conversion date, but only after 180 days from the loan date
|
$ | - | $ | 199,000 | |||||
|
Series 2
|
Fixed conversion price of $1.00
($1.00 warrants)
|
265,000 | 732,250 | |||||||
|
Series 3
|
Fixed conversion price of $0.40
($0.75 warrants)
|
735,000 | - | |||||||