Deal sells 8% notes, which convert to common stock at $0.05 per share
By Devika Patel
Knoxville, Tenn., Sept. 21 - APD Antiquities, Inc. sold $30,000 of 8% convertible promissory notes on Sept. 17, according to an 8-K filed Friday with the Securities and Exchange Commission. The notes represent two loans of $25,000 and $5,000.
The notes are due Dec. 31, 2012, and are convertible into restricted common shares at $0.05 per share.
The company also made a $25,000 unsecured loan to Northern Adventures, LLC on Sept. 18. The loan will be represented by an 8% promissory note.
The e-commerce company is based in Spokane, Wash.
| Issuer: | APD Antiquities, Inc.
|
| Issue: | Convertible promissory notes
|
| Amount: | $30,000
|
| Maturity: | Dec. 31, 2012
|
| Coupon: | 8%
|
| Conversion price: | $0.05
|
| Warrants: | No
|
| Settlement date: | Sept. 17
|
| Stock symbol: | OTCBB: APDQ
|
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