Stratus Media sells $650,000 of convertibles through private placement

Company sells 10% notes to Carolina Preferred, Sol Barer in offering

By Devika Patel

Knoxville, Tenn., Dec. 27 - Stratus Media Group, Inc. sold a $500,000 10% secured convertible note to Carolina Preferred High Yield Fund and a $150,000 10% convertible promissory note to Sol J. Barer in a private placement on Dec. 19, according to an 8-K filed Tuesday with the Securities and Exchange Commission.

Each note matures in six months and will be converted into securities issued in a future company financing at a conversion price equal to 50% of the purchase price per share or unit.

The owner, operator and marketer of live sports and entertainment events is based in Los Angeles.

Issuer:	Stratus Media Group, Inc.
Issue:	Secured convertible note, convertible promissory note
Amount:	$650,000
Maturity:	Six months
Coupon:	10%
Warrants:	No
Investor:	Carolina Preferred High Yield Fund (for $500,000), Sol J. Barer (for $150,000)
Announcement date:	Dec. 27
Settlement date:	Dec. 19
Stock symbol:	OTCBB: SMDI
Stock price:	$0.02 at close Dec. 26
Market capitalization:	$11.05 million

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