By Sheri Kasprzak
New York, Aug. 17 - Medical Media Television, Inc. settled a $1,302,000 private placement of secured convertible promissory notes with Vicis Capital Master Fund.
The 10% notes are due Aug. 10, 2007 and are convertible at $0.166 each.
For the note, Vicis made a cash payment of $790,000, surrendered two secured promissory notes issued in June 2006 and surrendered series AA convertible debentures issued in July 2005 in principal of $412,000.
Based in Tampa, Fla., Medical Media produces medical-related television programming.
Issuer: | Medial Media Television, Inc.
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Issue: | Secured convertible notes
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Amount: | $1,302,000
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Maturity: | Aug. 10, 2007
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Coupon: | 10%
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Price: | Par
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Yield: | 10%
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Conversion price: | $0.166
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Warrants: | No
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Investor: | Vicis Capital Master Fund
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Settlement date: | Aug. 11
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Stock symbol: | OTCBB: MMTV
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Stock price: | $0.05 at close Aug. 11
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