Item 1.01 Entry into a Material Definitive Agreement.
On
The note maybe prepaid based on the following schedule:
Days Since Effective Date Prepayment Amount 0-90 125% of Principal Amount 91-180 135% of Principal Amount 181+ 150% of Principal Amount
At any time after the Original Issue Date until the Note is no longer
outstanding, the Note shall be convertible at the lower of
The company has also entered into agreements with debenture holders from the
Item 2.03. Creation of a Direct Financial Obligation under an Off-Balance Sheet Arrangement of a Registrant.
See Item 1.01 above which is incorporated herein by reference.
Item 7.01 Regulation FD Disclosure.
The terms of this note specific that the proceeds from this Note must be used to
facilitate the payment and completion of the company's 10K report for the period
ending
Forward-Looking Statements
Statements contained in this current report that are not statements of historical fact are intended to be and are hereby identified as "forward-looking statements" for purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Generally, forward-looking statements include expressed expectations of future events and the assumptions on which the expressed expectations are based. All forward-looking statements are inherently uncertain as they are based on various expectations and assumptions concerning future events and they are subject to numerous known and unknown risks and uncertainties which could cause actual events or results to differ materially from those projected. The Company undertakes no obligation to update or revise this current report to reflect future developments except as otherwise required by the Securities Exchange Act of 1934.
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