8% convertible was bought by sole investor KBM Worldwide in offering
By Devika Patel
Knoxville, Tenn., June 30 – Intelligent Living Inc. sold a $42,500 8% convertible note to KBM Worldwide, Inc. on June 10, according to an 8-K filed Monday with the Securities and Exchange Commission.
The notes are due on March 15, 2015 and convertible into common stock at the greater of $0.000058 or 52% of the average of the three lowest trading prices for the common stock during the 10 trading days preceding conversion.
The notes may be prepaid at prices ranging from 110 to 130.
The Miami company develops healthy aging software tracking systems and wellness centers.
| Issuer: | Intelligent Living Inc.
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| Issue: | Convertible note
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| Amount: | $42,500
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| Maturity: | March 15, 2015
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| Coupon: | 8%
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| Conversion price: | The greater of $0.000058 or 52% of the average of the three lowest trading prices for the common stock during the 10 trading days preceding conversion
|
| Call: | At 110 to 130
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| Warrants: | No
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| Investor: | KBM Worldwide, Inc.
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| Settlement date: | June 10
|
| Stock symbol: | OTCBB: ILIV
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| Stock price: | $0.00 at close June 9
|
| Market capitalization: | $1.74 million
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