Deal sells 8% notes that convert to common stock at $0.05 per share
By Devika Patel
Knoxville, Tenn., Aug. 6 - APD Antiquities, Inc. sold $10,000 of 8% convertible promissory notes on July 30, according to an 8-K filed Monday with the Securities and Exchange Commission.
The notes are due Sept. 30, 2012 and are convertible into restricted common shares at $0.05 per share.
The company also made a $30,000 unsecured loan to Northern Adventures, LLC. The loan will be represented by a 180-day 8% promissory note.
The e-commerce company is based in Spokane, Wash.
| Issuer: | APD Antiquities, Inc.
|
| Issue: | Convertible promissory notes
|
| Amount: | $10,000
|
| Maturity: | Sept. 30, 2012
|
| Coupon: | 8%
|
| Conversion price: | $0.05
|
| Warrants: | No
|
| Settlement date: | July 30
|
| Stock symbol: | OTCBB: APDQ
|
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