All American Pet Company, Inc. (OTCPK:AAPT) announced a private placement of convertible revolving grid notes for gross proceeds of $1,000,000 on March 6, 2012. The transaction saw participation from Lisa Bershan and Barry Schwartz. The note will accrue interest at a fixed rate equal to 10% per annum, and may be converted into the common shares at a conversion price of $0.0022 per share at the investor option. The notes will mature three years from the issue date. On March 6, 2012, All American Pet Company, Inc. closed the transaction.