SpendSmart Networks, Inc. (OTCPK:SSPC) announced a private placement of convertible promissory note for gross proceeds of $100,000 on November 30, 2016. The transaction included participation from Daniel Jonathan Blech Trust. The note carries a coupon of 9%, and will mature in six months. The note will be convertible into an upcoming financing in the event the company closes the financing and receives gross proceeds totaling at least $200,000.