Convertible promissory note sold with warrants for 833,333 shares
By Devika Patel
Knoxville, Tenn., March 21 - OSL Holdings, Inc. sold a $100,000 convertible promissory note to Kevin T. Mulhearn on March 18, according to an 8-K filed Friday with the Securities and Exchange Commission.
The note is due in one year and may be converted into common shares at the market price any time after the 30-day weighted average share price reaches $0.50.
The investor also received warrants for 833,333 shares, which are exercisable without any additional consideration.
The New York company markets and distributes office products.
| Issuer: | OSL Holdings, Inc.
|
| Issue: | Convertible promissory note, 400,000 common shares
|
| Amount: | $100,000
|
| Maturity: | One year
|
| Warrants: | For 833,333 shares
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| Investor: | Kevin T. Mulhearn
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| Announcement date: | March 21
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| Settlement date: | March 18
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| Stock symbol: | OTCBB: OSLH
|
| Stock price: | $0.14 at close March 20
|
| Market capitalization: | $16.45 million
|
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