Note due Aug. 11, 2014, sold with original issue discount for $50,000
By Devika Patel
Knoxville, Tenn., Feb. 20 - High Performance Beverages Co. sold $75,000 of convertible promissory notes for $50,000 on Feb. 14, according to an 8-K filed Monday with the Securities and Exchange Commission. The original issue discount note was sold at a $25,000 discount.
The note is due on Aug. 11, 2014 and may be converted to common stock at $0.0001 per share. The company may prepay the note at par until May 11.
The Cave Creek, Ariz., company manufactures and distributes a line of sport performance beverages.
| Issuer: | High Performance Beverages Co.
|
| Issue: | Original issue discount convertible promissory note
|
| Amount: | $75,000
|
| Maturity: | Aug. 11, 2014
|
| Price: | $50,000
|
| Conversion price: | $0.0001
|
| Call: | At par until May 11
|
| Warrants: | No
|
| Settlement date: | Feb. 14
|
| Stock symbol: | OTCBB: TBEV
|
| Stock price: | $0.01 at close on Feb. 13
|
| Market capitalization: | $971,260
|
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