Newtown Lane Marketing, Incorporated (OTCQB:NTWN) announced a private placement of one convertible promissory note with returning investor Ironbound Partners Fund LLC at $25,000 per note for gross proceeds of $25,000 on July 15, 2016. The note carries a fixed coupon of 5% per annum and will mature on August 31, 2017. The note is convertible into common shares to the company at a conversion price equal to per share price attributable to the company’s common shares in a qualified financing, or if no qualified transactions is consummated, the per share price in the fundamental transaction as determined in good faith by the board of directors of the company.