Globe Photos, Inc. (OTCPK:GBPT) announced a private placement of secured convertible promissory notes for gross proceeds of $3,156,756 to several accredited investors in July 2018. The notes carry a fixed coupon of 10% per annum and would mature on or before April 30, 2019. The notes are convertible into common shares of the company at a fixed conversion price of $0.10 per share.