Promissory note due Jan. 31, 2013 sold to Southridge Partners in deal
By Devika Patel
Knoxville, Tenn., July 24 - Accelpath Inc. sold a $100,000 convertible promissory note to Southridge Partners II, LP on July 18, according to an 8-K filed Tuesday with the Securities and Exchange Commission.
The 5% note is due on Jan. 31, 2013 and is convertible into common shares at $0.0075 per share, which is a 25% discount to the July 17 closing share price of $0.01.
Based in Gaithersburg, Md., Accelpath helps in-office histology laboratories and hospitals enhance patient care by delivering digital pathology slides to leading sub-specialized, U.S. board-certified pathologists for interpretation.
| Issuer: | Accelpath Inc.
|
| Issue: | Convertible promissory note
|
| Amount: | $100,000
|
| Maturity: | Jan. 31, 2013
|
| Coupon: | 5%
|
| Conversion price: | $0.0075
|
| Warrants: | No
|
| Investor: | Southridge Partners II, LP
|
| Settlement date: | July 18
|
| Stock symbol: | OTCBB: ACLP
|
| Stock price: | $0.01 at close July 17
|
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