Deal sells 12% convertible promissory note due March 22, 2015 to JSJ
By Devika Patel
Knoxville, Tenn., Oct. 8 – Mind Solutions Inc. settled a private placement of a $100,000 12% convertible promissory note with JSJ Investments, Inc. on Sept. 22, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The note matures on March 22, 2015 and is convertible into common stock at a 48% discount to the average of the three lowest daily trading prices in the 20 trading days preceding conversion.
The San Diego company has created a wireless headset that detects and processes real-time brain activity patterns.
| Issuer: | Mind Solutions Inc.
|
| Issue: | Convertible promissory note
|
| Amount: | $100,000
|
| Maturity: | March 22, 2015
|
| Coupon: | 12%
|
| Conversion price: | 48% discount to the average of the three lowest daily trading prices in the 20 trading days preceding conversion
|
| Warrants: | No
|
| Investor: | JSJ Investments, Inc.
|
| Settlement date: | Sept. 22
|
| Stock symbol: | OTCBB: VOIS
|
| Market capitalization: | $2.75 million
|
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