Convertible promissory note due 2014 purchased by Asher Enterprises
By Devika Patel
Knoxville, Tenn., Aug. 28 - WWA Group, Inc. sold a $32,500 convertible promissory note to Asher Enterprises, Inc. on Aug. 19, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The 8% note is due May 21, 2014 and may be converted into common shares at 51% of the average of the lowest three trading prices of the stock during the 30-trading-day period preceding the conversion date.
The Austin, Texas, company auctions off used and new heavy construction equipment, transportation equipment and marine equipment.
| Issuer: | WWA Group, Inc.
|
| Issue: | Convertible promissory note
|
| Amount: | $32,500
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| Maturity: | May 21, 2014
|
| Coupon: | 8%
|
| Conversion price: | 51% of the average of the lowest three trading prices of the stock during the 30-trading-day period preceding the conversion date
|
| Call: | Yes
|
| Warrants: | No
|
| Investor: | Asher Enterprises, Inc.
|
| Settlement date: | Aug. 19
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| Stock symbol: | OTCBB: WWAG
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| Stock price: | $0.01 at close on Aug. 16
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